It used to be that a real estate agent recommended a local mortgage company; today there are many options. However, not all mortgage companies are created equal. A trusted mortgage company can make the process of buying a home run much more smoothly.
George Mason Mortgage, a subsidiary of United Bank, has been a trusted name in real estate for 40 years. Ric Segovia, Senior Vice President and Branch Manager for George Mason Mortgage for the last 27 years has over 34 years of mortgage banking experience.
Ric takes his knowledge, insight, and specialties to help Northern Virginians buy or refinance their homes with the least among of stress. He mentors his staff so they too can offer the same exceptional service.
“Why choose George Mason Mortgage when buying home? We are local and we are regional,” Ric said. “We go back to old time mortgage banking. I think that is what sets us apart.”
George Mason does not contract out with third party companies when brokering mortgages. All the steps are handled within the company. “Other companies underwrite elsewhere” Ric explained. "It goes all over.”
Working with a team of his own people gives Ric and George Mason an advantage. “A 30-day settlement is standard on home purchases,” said Ric. His branch has a track record of delivering on time. “We can get our part done and we can get it to settlement.”
George Mason’s reputation is more than a name; it is based on a history of successful transactions. “Realtors know us,” said Ric. That goes a long way when everyone sits down at the table.
Ric works with his clients to get them pre-qualified and helps them improve their credit to receive the approval they want.
Yes, it can be easier to receive pre-qualifications elsewhere. However, getting pre-qualified from no-name companies often means nothing to Sellers and real estate agents. Buyers may need to seek pre-qualification again or may even have their mortgages denied.
Ric recommends always using a reliable mortgage company and working with a local branch. When real estate agents, mortgage bankers and title agents know each other, things tend to progress much more smoothly for everyone.
A good mortgage will also be honest with his client, Ric said. While some may sell clients on buying more house than they can comfortably afford. A mortgage professional will let buyers know what the home will really cost them per month (taxes, fees, and all) and how that fits within their actual budget. Accommodating the Purchaser’s comfort level for payment is paramount.
Ric and his Team are extremely knowledgeable. That knowledge helps them provide access to more down payment options and programs for their clients, encouraging them to apply for First Time Homebuyer programs and other incentives. George Mason professionals stay up to date on newest information. Guidelines are “changing all the time,” Ric explained.
George Mason offer ‘very competitive” mortgage rates, so people can get into their homes or refinance and take advantage of the savings.
Rates are still very good, and the saving from refinancing adds up, especially over several years. Some people save $100 per month, others can save around $500, Ric explained. It varies greatly, so people may want to talk to a mortgage banker before making the decision to refinance.
Ric enjoys working at George Mason Mortgage, which is the reason he has stayed with the company most of his career.
“It’s one of the top mid-sized companies and as a good place to work. We have a great staff. My branch been with us for 20-something years. And again continuity, it’s being able to get the job done.”
Many people work in financing, but Ric gets to help people realize their dreams.
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