 "When you surround yourself with good people who are truly invested in you and your dreams, the sky is the limit." - Tiffany Martone-Caprai Green Leaf Mortgage Having a good lender is key to a smooth real estate transaction. The Grover Team sat down with one of our favorite lenders, Tiffany Martone-Caprai of Green Leaf Mortgage, to ask her for some advice for prospective buyers looking to buy a home in Oregon. We wanted to reach out to a lender because we've found that many buyers have misconceptions about the role of the mortgage broker, and what they may need to do to qualify for a home loan. The Grover Team: How long have you been a mortgage broker? Tiffany: I’ve been a mortgage broker for twenty years. I opened my own small boutique mortgage company as an independent mortgage broker in 2007. Being an independent mortgage broker gives me the advantage to keep rates and fees low, and to offer a more specialized and personal approach to lending. I started in this business in 1999 with a new baby and two other children. I wanted a career where I had more control and flexibility. I’m very driven, and creative and I love working with all types of people. I found the mortgage business an exciting opportunity to become more ingrained in my community and the people of Oregon. I also love the challenge of mortgage planning and finding strategic ways to put financing together. Many brokers say no when a buyer doesn't fit inside the box. I am really great at finding creative solutions to achieve the dream of home ownership. The Grover Team: What is your favorite thing about being a mortgage broker? Tiffany: I’ve been an Oregonian for most of my life and value the beauty, culture and people of Oregon. My favorite part of my job is being part of someone's dream and helping that dream come true. Buying a home is something that most people strive to do and the happiness that buyers feel when the loan goes through and they receive their keys is truly something I love being part of The Grover Team: What's the most common misconception buyers have about talking to a lender? Tiffany: The most common misconception would be that potential buyers may not feel they could qualify based on the amount of assets they have to put down. Most consumers believe you must have 20% of the purchase price to put down to get a good rate. There are so many loan programs available to buyers and many require as little as 3% down. Each buyers circumstance is different buy typically there is program to meet the needs of most. Additionally, many consumers simply go to their bank or credit union and assume that is enough. You want to shop around in order to ensure that you are getting the best rate, lowest fees and the most available program options. Many people believe advertisements or the commercials they see on TV and chose to work with giant predominately on-line lenders. If it is seems too good to be true, it usually is. Most of the time these borrowers end up feeling extremely frustrated as the rates end up being higher, the turn times are long and the customer service is extremely poor. Working with a lender you can sit down in front of, who is willing to dig in and really look at a variety of options and who is familiar with the market area, truly makes a huge difference. You should expect great communication and clear answers and a lender who is on top of every step of the process. The Grover Team: What's the most common mistake buyers make during the lending process? Tiffany: One of the most common mistakes is buyers who make big life changes or big purchases during the loan process without consulting with their mortgage professional. I ask all of my clients to let me know if they want to make a purchase over $500 during the loan process. Sometimes if the buyers ratios are tight a large purchase can make the difference in qualifying for the loan. I have had other clients who quit their job during the loan process or made other big life changes thus making it impossible to qualify for their mortgage. It is vital to keep your mortgage professional aware of any big changes you might want to make or any large purchases that could be impactful to their qualifying for financing. The Grover Team: What’s the role of a buyer's credit score in securing a loan? What's the easiest thing a buyer can do to improve their credit score? Tiffany: Credit scores are big part of obtaining a mortgage as it relates to rates and program option. Those with outstanding credit scores will receive the lowest rates but buyers with marginal scores still have many program options available, such as FHA, VA and USDA loans, if they meet the overall criteria. I work with many buyers who have less than perfect credit to come up with a 3 month, 6 month or 1 year plan to improve their scores. The best way to improve a buyers credit scores is to pay your payments on time or a few days early, make over the minimum payment, try to keep the balance for each credit card at no more than 50% of the available credit and pay off collections and judgement as fast as possible. Everyone is different and having low credit scores is nothing to be ashamed of as everyone has a life story. The good news is that you can bounce back as long as you are diligent and invested in the end goal. The Grover Team: What does a borrower need to do to be competitive in a tough housing market? Tiffany: Being prepared is the number one component in a competitive housing market. Making sure you have a firm pre-approval is key to making sure you are not disappointed when you find the home of your dreams. That along with finding a great real estate agent that will walk beside you step by step throughout the process, is the best approach to being competitive. Grover Team: What’s something that you wish every borrower knew when beginning the process of buying a home? Tiffany: I wish every borrower knew that in order to be successful in the journey towards home ownership you must surround yourself with the right team players to help you achieve this goal. The right agent combined with the right mortgage broker will help ensure that your experience is not only rewarding but memorable in a good way. When you surround yourself with good people who are truly invested in you and your dreams, the sky is the limit. Tiffany Martone' - Caprai, Owner/Independent Broker Emerald Valley Mortgage, Inc., NMLS #276693/#277048 [email protected] 2350 Oakmont Way, Suite 106 Eugene, OR 97401 O 541-685-9000 C 541-915-1299  
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