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Helping You Decide Which Loan Is Right For You: An Interview with The Amy Bonis Mortgage Team

By Kristen Bosse

Please describe a little bit about your company and the services you offer.

I have been in the mortgage industry over 20 years and love to help people achieve their dreams and win. I do this thru smart, well thought out, innovative, strategic thinking. I love the company I work with because we have access to every loan program out there and can offer customers the very best rates and terms by shopping the loan for you through various lending options. We have no MI loans with only 5% down. We also do USDA, VA, FHA loans and offer other various products. We also do rehab loans and construction loans for our customers. We are known for having the best rates and terms and for providing excellent service and communication throughout the process. We have also been featured on various local TV stations and offer workshops on Real Estate Investing and Home buying. We are licensed in 40 states. We have a can do attitude and you can count on us. Our underwriting is done right here in NC as well!

How did you get into this line of work? What in your background helped you excel?

I started in the mortgage industry in Los Angeles in 1993 when I was deciding to make a career move. I actually took career tests that lead me to the field of financial planning/ Real Estate development and mortgage lending. I am very good at analyzing people's overall financial health and helping them come up with a plan to improve their situation. I love doing this and making a difference in people's lives.

What are some common mistakes homeowners make when taking out a mortgage loan?

They just assume their bank has the best deal. However, you typically don't get the best range of products because one bank does not offer every product. The biggest mistake people make thought is NOT getting preapproved. To get the potential best deal on a property, you really must sit down with a local lender and have them review your income, assets etc.. And issue you a formal approval (not a prequalification). There is quite a difference. Just getting prequalified is not good enough in this market. Getting preapproved will statistically increase your chances of being able to get your offer accepted over other potential buyers!

What is your opinion on the home buyer's market today? Do you believe that interest rates have become too high?

I have seen really high rates in the 1980's when rates neared 20%. Rates today are historically low. The market in RTP right now is leaning more towards a seller's market not a buyer's market. In some areas there is limited housing inventory and people are experiencing multiple bids on the same house. Some people have to overbid on the ask price to get their offer accepted in these types of situations. The forecasts for the housing market are quite good over the next several years AND we happen to live in one of the best housing markets in the country according to top magazines like Kiplinger's and Forbes.

How important is a good credit score when I apply for my mortgage?

Getting preapproved allows you the privilege of getting advice on your financial situation ahead of you making an offer. So, if there is something that you can improve prior to making an offer you will have time to do it. One of the things that is sort of obvious is the credit scoring system. Credit is one of the things that will dictate your percent down and interest rate and what types of programs you qualify for. In this market though, you can get into a home with as little as 3.5% down with as low as a 600 credit score! Guidelines have loosened up a bit.

How do I know if I am financially stable enough to own property?

We will talk about this when we meet for your FREE strategy session. How long have you been on your job? How do you feel about your workplace (there are no guarantees). Do you have any money saved? What does your debt look like etc.?

How do you help your clients decide which loan is right for them and their home?

This is an excellent question and I take this very seriously. I have told people not to buy a home if I felt they were not in a situation that would support a long term a home purchase. I think there are numerous factors (some lenders will quote 26 different factors) that determine your rate and program that is best suited to your needs. They are based on guidelines, your income to debt ratio, your percent down payment, your credit score, if you are a US citizen or do you have a VISA, what type of property you are buying (Condo, townhome, etc). We will go over all these scenarios when we pre-approve you.

What are some key qualities a new homeowner should look for in their mortgage consultant?

How long have they been in the business? Are they busy but do they get back to you? You want them to be busy (because they are good) but they must be responsive. I would look them up on line. I would meet with them and see how you feel about them and if you can trust them? Can they give you references? Do they have access to multiple lending institutions so that they can get you the best terms? Do they have a credit counselor who can help you if need be? The questions go on!

What is the best way for people to get in contact with you?

The best way to contact me is either through email at or you can call our office at 919- 414 4430. Feel free to visit our website. Use the password best, all lower case letters to get into the prequalification tab.

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Kristen has written impressive content including press releases and feature stories...

Phone: (203) 913-0483

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