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Thursday, September 21, 2017

With the holiday weekend upon us, the conclusion of summer, and the start of the school season - reality is starting to kick in. It’s always interesting to see the reaction from different children who each have their own unique perspective on the start of the school year. Some, nervous about what’s to come, and others anxious to reunite with friends who they haven’t seen in weeks. Most, not overly interested in the academic and scholastic aspect of what’s to come. Yet, as adults, we know that learning is something that cannot be taken for granted at any grade level, and something that only magnifies as we get older.

One of the approaches that I have always taken in business is to continually educate my clients in all aspects of real estate and financing. I never take for granted the fact that even the most sophisticated of clients need to be personally guided in so many aspects of the housing and mortgage process. Quite frankly, a mortgage is an extremely complicated, delicate and cumbersome process that can cost tens of thousands of dollars if someone is not cognizant of the details.

I recently got a mortgage approval for a first time home buying couple that I was working with for a while. I was thinking back to our first meeting in my office when we were literally discussing the ABC’s of buying a house. I would consider this couple to be extremely savvy and knowledgeable with an excellent perspective of what buying a house entails, as well as all of the nuances along the way. Yet, their meticulousness in asking specific and comprehensive questions is something that I encouraged, and knew helped them make the most informative decision possible.

In the end, they bought a house that was definitely underpriced (i.e. a great deal) and they were able to get the best values, rates, and terms on almost every part of the home buying expenditures. In one of our recent conversations the husband mentioned to me that he can see why there was a real estate crash and crisis many years ago, because if you don’t do the necessary research, and if you don’t work with a reputable advisor that you trust implicitly, it is easy to be taken advantage of in so many different aspects. I very much appreciated his comments, and told him that it is precisely for those reasons that I take the time to make sure I truly guide my clients from start to finish.

I recently got this email endorsement from a first time home buyer that best exemplifies this point. “Buying your first home can be an incredibly stressful and overwhelming experience. Obtaining a mortgage is one of the most complicated and confusing steps in the process that a first time homebuyer has to navigate. Working with Shmuel Shayowitz and his wonderful team at Approved Funding has made this entire process a painless and informative experience. Their knowledge, expertise, honesty, and customer service are exemplary. Shmuel always made himself available to me, took the time and effort to answer all my questions, and made sure I understood and was comfortable with everything. Shmuel’s willingness to work with me and understand my goals helped me get the best mortgage and the best rate for my needs, but the value he brings to the table goes far beyond that. He was a true partner in assisting me through every step of the home buying experience, and that is something that is increasingly rare in today’s market.”

The reality of the matter is that anyone who is experienced and passionate about their craft can be a tremendous source of knowledge and education. That said, not always do they take the time and effort to give over the information at the personalized level that the receiver needs to acquire it. When “shopping” for a professional to partner with on a home buying experience, these are the types of research that should equally be considered to maximize the best possible grade. Special shout out to all the kids returning to school!

By Shmuel Shayowitz

 Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Approved Funding is a mortgage company offering competitive interest rates as well specialty niche programs on all types of Residential and Commercial properties. Shmuel has over 20 years of industry experience including licenses and certifications as certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. He can be reached via email at [email protected].