Everyone should have the opportunity to own a home and experience the pride, happiness and countless benefits that are integral to homeownership.
Buying a new home or refinancing your existing dwelling is an exciting time in a person’s life, notes Christine Perlow, a sales manager for Nationwide Mortgage Bankers in Melville.
“A home is more than an address. It’s the start of your next great chapter,” Perlow says.
And though some people may not have the most stellar credit, owning a home may still be within their reach.
“The first thing you should always do when you’re considering buying a house or any type of mortgage financing is call the professional and see what your options are because you might be very pleasantly surprised at what the possibilities are,” Perlow says. “Or, we can set you up to be a homeowner or refinancer – or whatever your needs are — in the future. But if you don’t take that first step of a phone call, you don’t know what you can do.”
A seasoned professional with three decades in the mortgage business, Perlow got her start in the business as an assistant to the president of a mortgage company. From there, she moved on to all different phases of the mortgage business: from processing to underwriting to closing.
“And then I decided to go on the sales side 25 years ago,” she says.
By performing all the various jobs, Perlow learned all aspects of the mortgage business and what it takes to expedite and complete a file.
“I can also navigate through some of the hurdles that come up,” Perlow says. “Having that training has definitely helped me succeed on the sales side.”
Perlow’s sales team includes an assistant who’s been with her for 16 years and a processor who works exclusively with her.
“Everything we do is underwritten and done in-house,” says Perlow, noting that they can lend in 47 states.
Customized Mortgages for Individuals
When people think of mortgages, they often don’t realize that there’s no one-size-fits-all.
“Every loan is different; every scenario is different,” Perlow says. “And, there’s more to it than just picking up the phone and calling someone and saying, ‘I need a loan.’”
A mentor, Perlow recalls, likened real estate to a table, with each leg representing a vital part of the transaction. One leg represents income; another: assets, a third: credit and the last: the house.
“All four pieces need to stand tall in order to get the best outcome, but there’s always something that you need to be able to navigate through to be able to put something together,” Perlow says.
For example, a self-employed person might need alternate income verification products, such as a P&L (Profit & Loss) or a bank statement program called a Non-QM (non-qualified mortgage).
“There are grants available for first time homebuyers to help them with their downpayment or closing fees,” says Perlow, adding, “There are all different things that can be utilized to customize that loan for each individual scenario. That’s what I love the most about my job: every day is an adventure and no two deals are the same.”
Mortgage rates also vary, depending on various factors, such as the amount of the downpayment, your credit score, income and asset verification, and whether you’re a first-time homebuyer.
“There are all different pieces that make up the quote so it’s not just as easy as calling someone and saying, ‘What’s your rate?’” Perlow says. “That’s why it goes back to the importance of calling the right person to understand what your options are because the possibilities are endless.”
Securing a mortgage for a second home, particularly on Fire Island, where she is one of the preferred lenders, is a considerable part of Perlow’s portfolio. Refinancing also makes up a big portion of her business.
“More and more people are consolidating their credit card payments and student loans,” Perlow says. “Even though the rate has gone up a little bit since our all-time lows, it’s still a lot more cost effective and tax deductible than trying to manage all of that other debt that’s scattered.”
Part of Perlow’s success is the combination of being a good listener and asking a lot of questions.
“Everybody’s needs are different and everyone’s goals are different, so it’s very important for me to pay attention to the little things you might say that I may pick up on to be able to customize that right product for you,” she says.
Always Accessible to Clients
Working with SONYMA (State of New York Mortgage Agency) for the last 15 years, Perlow has been one of their Hall of Fame salespeople specializing in first time homebuyers with grants.
“My first time homebuyers and my veterans definitely have a piece of my heart,” says Perlow, adding, they often stay in touch and become repeat customers. “They’re clients and friends for life.”
No matter the stage in someone’s life, whether they’re starting out as first time homeowners, have growing families and need a larger home, want to purchase their family’s house, have kids going off to college and need equity, or are elderly and want to remain in their house Perlow can find a product to help them finance.
“Every phase of your life, I’m with you every step of the way,” Perlow says.
Though most of the mortgage business is done online these days, Perlow is happy to meet with clients in person.
“Have laptop, will travel,” Perlow says. “I’m always willing and happy to go one-on-one, whether it’s their home, the office: wherever it might be.”
Known in the industry for her round-the-clock accessibility, Perlow is reachable days, nights and weekends.
“I need to be available when the public’s available,” says Perlow. “People generally work 9 to 5 and those hours don’t work for most people to have their questions, concerns, scenarios addressed. It’s important to have someone to be able to communicate with them at all different times that work best for their schedule.”
From putting down roots to creating lasting memories and building a vital nest egg for you and your family, homeownership is one of life’s greatest achievements.
And Christine Perlow can help turn that dream into a reality.
Nationwide Mortgage Bankers is located at 1305 Walt Whitman Road, Suite 100, Melville; 833-700-8884; nmbnow.com
