Eileen Czechanski

Do you specialize in commercial or residential lending?

Specializing in residential and commercial loans.

Describe your typical client.

There is no "typical" client that I work with. It could be a 19-year-old first time homebuyer or an investor looking to buy yet another property. I have worked with them all.

What types of loans do you typically recommend for first time homeowners?

Every client is unique. Fixed rate loans are recommended for those who are looking to be in their home for an extended period. It provides a sense of security to a customer that they are locked into a fixed rate with consistent payments. ARM loans might be recommended for a homeowner who will only be spending a few years in their home. It will allow them to take advantage of a lower interest rate with the idea that they will be selling prior to the ARM expiring. Of course when I am dealing with first time homebuyers I make sure to educate them on all aspects of the loan program so they know exactly what they are getting into.

How do you determine what type of loan to recommend to a client?

It depends completely on the client's needs and goals. Fixed rate loans are the most typical and they provide the "safest" route with set payments for the client. On the other hand, for those clients who need to minimize their monthly payments and free up extra cash flow, I may recommend an interest only loan or a Pay Option Arm. There are countless products that have been designed to fit every scenario and I tailor a loan to fit each client\'s specific needs.

What are the most important criteria when selecting a mortgage broker?

TRUST and HONESTY. Buying a home or refinancing is a very important decision for anyone to make and a homeowner must be able to trust the broker to make the right decisions for them. It has been many occasions where I have seen a client in a loan that they should never have been in from the beginning. A loan officer should be honest and upfront throughout the entire process and deliver on their promises.

What can someone shopping for a loan do to save the most money?

Maintaining good credit standing will always save you in the end. You will be able to pick and choose which loan program would be ideal and you will qualify for the best interest rates. This will save you thousands of dollars up front and over the life of the loan.

What are some common mistakes people make when either shopping for a loan or hiring a mortgage broker?

The most common mistake clients make when taking out a home loan is not knowing every detail of the loan. Ask questions. Is there a prepayment penalty? What is the term? Interest only or amortized payments? Is this a fixed rate loan or an ARM? A client can avoid this common mistake by simply educating themselves on every aspect of their loan and hopefully this will eliminate all surprises in the end.

Please list all of the states / regions in which you operate.

We operate in all 50 states.

Best Mortgage Advice...

My best advice is to find a loan officer that you can trust and know every feature of the loan you choose to go with.

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