Anna is a Loan Originator at Inland Home Mortgage, a division of Inland Bank and Trust. Member FDIC. Equal Housing Lender. She lives in Naperville with her two children, where she is active in the Naperville Exchange Club and Healing Field of Honor.
Q: What is your background and what led you to your career?
A: I have been in banking since I graduated from high school and worked my way up from being on the teller line to the lending department, which landed me in mortgage lending.
Q: What do you like about your work? What is the most challenging?
A: I have been in the mortgage origination business for 25 years. It has been my mission to not only guide borrowers through their entire home-buying process, but to be upfront and honest so that they understand everything from the beginning to the end of the home loan process. I want my borrowers to feel confident as they make choices about the many options available for their mortgages. The challenge is that everyone’s financial situation is different and you have to be up to date on programs and underwriting guidelines to make sure they are in the right program.
Q: A mortgage is perhaps the largest financial transaction for families. What’s your No. 1 tip for buyers?
A: You will hear it classified as your biggest investment or your biggest liability but in reality, it is your home. You have to work with a lender that makes you feel comfortable with the payment and the program you choose and to understand how it works. Much of my business is from repeat customers and their referrals. I pride myself on customer satisfaction, which has allowed my business to continue growing on its own. I look forward to working with anyone and to custom tailoring the best home loan for them.
Q: What has changed in the home mortgage business over the last five years?
A: During the last housing boom, anyone with a pulse could get a mortgage, but after the financial crisis, underwriting rules tightened significantly. As a result, current default rates on loans that were made in the last eight years are lower than historical norms. At the same time, younger borrowers with high levels of student loan debt are being left out of the housing recovery and unable to qualify for a home loan. Consumer's debt level is just one of many factors considered by lenders when underwriting a mortgage. Mortgage giants like Fannie Mae and Freddie Mac are allowing borrowers to have higher levels of debt and still qualify for a home loan. These changes come at a time when lenders are competing for a shrinking market of borrowers.
Q: Are there any “apps” to help home buyers with mortgages?
A: I’m old school and still use my HP 12C financial calculator when calculating mortgage payments and use an excel spreadsheet for amortization schedule. In today’s world, I know you can find an app that is compatible with iPhone and iPad to help you get an idea what your mortgage payment is when you’re shopping for your home. But in my opinion, an “app” to apply for a mortgage is very risky. You really need to talk with a licensed mortgage loan originator so you can ask all the right questions regarding your financial situation and learn what is right for you.
Q: You have been heavily involved in the Naperville community as Chairman of the Exchange Club’s Ribfest (2006) and Chair of Fundraising for Healing Field (2009, 2012 and 2015). What do you get out of your work?
A: To be successful with their fundraising, organizations need a lot of volunteers. The reward of raising funds for Ribfest or Healing Field of Honor for our veterans is immense. I can never say no. I love how the Naperville community comes together. The bonus is I have fostered new friendships and business partners throughout.
Q: What are you most proud of?
A: Showing my children that you can overcome any obstacle in your life by not giving up and to keep trying. We all learn from our experiences and our failures.
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Photo by: Stolen Moment Photography, a local business, owned by 20-year Naperville resident, Colleen Abrahamovich. What Colleen captures best are candid moments! Most of what she specializes in are the “stolen moments” that happen when no one else is watching; that’s when the magic happens. Colleen is available for events such as Candid Wedding Photos, any types of party celebrations, Family Reunions, Sporting Events, etc. Colleen loves children and family photo ops too, in a relaxed, candid setting! Starting out shooting mostly sports, Colleen has 12 years of experience shooting all levels of sporting events; high school, college level, and even the NFL! Sports is not just action, it’s an event. Colleen specializes not only in getting the action, but the subtle nuances that are happening in and around the event.
Please visit: www.StolenMoment.Photography and on Facebook: Stolen Moment Photography. Colleen can be reached at 630.947.3714 and Colleen@stolenmoment.photography