What should prospective homebuyers consider when applying for a loan?
It is really important for homebuyers/borrowers to reach out to a local lender and go through the pre-approval process. Fortunately, it is pretty simple and most lenders provide a checklist to help the buyer/borrower understand what is needed, including purchase price, loan option A or B. We offer a homebuyer checkup and I meet with borrowers several times during the pre-approval process. It’s very important the borrower not move money around—keep bank accounts steady and easy to read because large deposits may need to be sourced. Gift funds, down payment assistance; these funds may also contribute to the overall financial profile of an applicant. Once the borrower is pre-approved, they can give their prequalification letter to their agent and start shopping for a home.
How long have you been a mortgage broker?
I have been in the lending industry since 1989. I have seen a lot of industry changes, including acquisitions, in my tenure. I have met a lot of wonderful people and I truly love what I do and working for HomeBridge Financial Services.
How did you get into this business?
When my husband and I were married in 1986 we wanted to build our first home. We went to our local bank, they said I needed a “real job”, one that paid every month, not commission. I started looking in the classifieds and found a job with Beneficial Finance in Gilroy. There I became a District Sales Manager, working on subprime loans for three years. Eventually—after referring many clients to World Savings and Loan, I joined them and stayed for 17 years through various acquisitions until finally making the leap into mortgage banking with Wells Fargo. I joined Prospect Mortgage in 2013, then HomeBridge purchased Prospect in February of this year. HomeBridge has a phenomenal product line which is very important to serve a variety of borrowers needs. I love this business, second best choice I ever made, first best choice, marrying my husband.
What do you love about your job?
The people I meet. I also enjoy the puzzle and figuring out the best option for the applicant.
How do you spend your free time?
With my husband Brian, a Realtor and general contractor. I enjoy riding our horses, being involved in our community, working on home improvement projects and taking tropical vacations with children, Sarah and Clint.
Contact Cynthia Holthouse at 831.902.2229 or cynthia.holthouse@HomeBridge.com.