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Good Neighbor Podcast Estero
EP # 254 Breaking Down Mortgage Myths with a SWFL Native
Navigating the path to homeownership doesn't have to feel like scaling a mountain without gear. Puja Romero of CrossCountry Mortgage's Wellmax Mortgage Team unveils the truth behind common mortgage misconceptions that keep many potential homeowners on the sidelines.
Think your credit score isn't high enough? Think again. Puja shatters the myth that you need pristine credit to qualify for a mortgage, explaining how her team works with clients whose scores are in the 500s. "We look at what is causing that lower credit score and we work with you to fix it," she shares. Similarly, the idea that you need a 20% down payment is outdated - with programs offering as little as 3% down for first-time buyers.
What makes Puja's approach unique is her deeply personal connection to her work. After surviving colon cancer last year, her perspective transformed. "When you go through something like that, it really makes you pay attention to what you have, where you're at, what's important," she reflects. This life-changing experience shapes how she approaches each client relationship - not as transactions, but as partnerships in achieving dreams.
As a Southwest Florida native raised on Sanibel Island, Puja brings local knowledge alongside professional expertise. Her practical advice on today's market challenges conventional wisdom: "Don't wait too long to buy that home, because once rates come down, prices go up." She reminds listeners that mortgages aren't permanent commitments - "we can always refinance that rate once they come down."
Ready to explore your options without pressure or judgment? Connect with someone who sees beyond numbers to the person behind them. Whether you're buying your first home or downsizing for retirement, Puja's approach offers clarity in a confusing market.
CrossCountry Mortgage / Wellmax Mortgage Team
Puja Romero
239-849-6886
9130 Galleria Court
Suite 101
Naples, FL 34109
puja@maxwellmortgageloans.com
crosscountrymortgage.com/maxwell-mortgage-team
And we'll get rolling. Okay, perfect, thank you All. Right, here we go.
Speaker 3:It's time to check out your neighbors on the Good Neighbor Podcast, where we bring good vibes, great neighbors and local businesses in Southwest Florida together. Here's your host, cabo Jim Schaller.
Speaker 2:Welcome Good Neighbors to episode number 254 of the Good Neighbor podcast. Today we have Good Neighbor Puja Romero from Cross Country Mortgage and the Wellmax Mortgage Team Welcome.
Speaker 1:Thank you.
Speaker 2:Yeah, always a pleasure to get to know people and share their story with our listeners. So without further ado, let's jump right in. And why don't you share a little bit first about what you do?
Speaker 1:Okay, sure, let's. Let's jump right in. And why don't you share a little bit first about what you do? Okay, sure. So I'm a residential loan officer with cross-country mortgage. As part of the maxwell mortgage team, we do all types of loan financing. We have a product for everyone out there. We always like to say there's no one we can't help if you're not ready to buy at this current moment. We'll coach you, we'll guide you, we'll get you ready for homeownership.
Speaker 2:And that's the important part right. When you're ready, you're ready. Let's back up your story a little bit. How did you get involved in this industry to start with?
Speaker 1:So I actually was in the banking industry for over 20 years. I got involved in banking when I was 25 because I had two little children. I never, ever, thought I would have a career in banking, but I was looking for something that would be good hours, you know, weekends, holidays, off as I was a young mom and just wanted to have that time with my family. So that's how I got started in the industry and I worked in the retail side of banking for a very long time and I got into loans in the banking industry about eight years ago and I've been a loan officer for three and a half years and I decided I wanted more growth. So that's why I came over to the mortgage company.
Speaker 2:Interesting. It's kind of funny. My mother started the same way, but she didn't go into the mortgage, she just did loans at the bank. So very interesting.
Speaker 1:Yeah, it's funny how life will just take you in a different direction you don't even expect.
Speaker 2:Exactly Right Right. But you follow it, you find your place and here you are today. We've all had some type of challenge along our journey whether it's personally or professionally to get where we are today. Is there something that happened along your journey that maybe we can look back at now and say you know what? I'm in a better place now because of it, and I made it through it.
Speaker 1:I would say not really with like work, but I actually fought colon cancer last year and I survived that. So I think that has really changed my perspective on things you know with life in general health, work, family, everything all around. When you go through something like that, it really makes you pay attention to what you have, where you're at, what's important, what's worth it, and all around. I think it makes you just a better person. You know, to see the other side of that.
Speaker 2:Absolutely. It opens up your perspective, but congratulations on surviving and working through that, thank you. Are there any maybe myths or misconceptions surrounding the mortgage industry that we can maybe clear up for listeners today?
Speaker 1:Yeah.
Speaker 1:So one of the most biggest concessions is credit score. Everyone thinks you have to have a perfect credit score. You know, in the mid to high 700s, 800s, to buy a home. That is not true. We can help you. You know, in the 500s, preferably the higher 500s is where you need to be a home. That is not true. We can help you in the 500s, preferably the higher 500s is where you need to be 580. But if you are below that, we look at your credit reports, not like, oh this is what your credit score? Sorry, we can't help you. We look at that credit report, we look at what is causing that lower credit score and we work with you to fix it, to make those changes to get you to where you want to be.
Speaker 1:And then also the down payment. A lot of people think you have to have 20% down to put on a home when you're purchasing. You can have as little as 3% down 3.5% down for FHA, 5% for conventional. So 3% is for anyone who's never owned a home before. So three percent is for anyone who's never owned a home before. We can actually do a regular conventional mortgage at three percent down if you've never owned a home before. If you have owned a home prior, then it's five percent, but FHA is three and a half percent down and you cannot. A lot of people think you can only have one FHA loan in your lifetime. That's not the case you can have. If you've already paid off an FHA loan, you can have another FHA loan. So and then, yeah, so that's it. The credit and the down payment, I would say, are the biggest factors that are misinterpreted.
Speaker 2:So a lot has changed in the industry as of late, but do you notice anything trending?
Speaker 1:As for, like the market, yes, yeah.
Speaker 1:Well, the market. You know it's definitely a tougher time out there, but I feel like it's still. We're still in a good market. You know the rates are fluctuating daily, but how most prices are starting to come down a little bit. I know people are hoping they'll come down a little bit more. But who knows? We all wish we could predict the future. You know I'd be a millionaire by now if I could, you know. But I would just say the rates, you know, hopefully will start to come down a little bit. That's what everyone's hoping for, but we're still in a fair market.
Speaker 2:And everything's always very volatile, so it's up and it's down and it has its swing.
Speaker 1:If you look at real estate over like the past 30 years, you know we had that huge crash in like 2008, 2009. It's always going to be up and down. It's never that steady road. You know you always have your good times and your low times and the past few years have been a little bit harder. But you know we're hoping for a better future in the next couple of years.
Speaker 2:Absolutely, absolutely so are you from Southwest Florida originally.
Speaker 1:I am. I was actually born in Fort Lauderdale and then my parents moved over to Sanibel Island when I was two, so I had the luxury of glowing up on the island, and then we moved off island, I would say, in 1999. And I've been in Fort Myers ever since.
Speaker 2:Wow, Lucky you See. I was born in Wisconsin. I had to work my way down here. Lucky you.
Speaker 1:See, I was born in Wisconsin. I had to work my way down here. Yeah, I know, it's very rare, you know, when you get someone who was born and raised here in Southwest Florida or in Florida in general, and I actually just met a financial advisor last week who is born in Florida as well.
Speaker 2:Wow, very nice, very nice. So I know your job can be very demanding. What do you do when you get a moment of free time?
Speaker 1:I spend time with my family. I have a big family and everyone's here my husband, my two kids my kids are still here and my parents, my in-laws, our siblings. My sister does travel, and then we have our group of friends that have become like family. So we just try to spend a lot of good time together. Make those memories that last.
Speaker 2:And that's the important thing surrounding yourself with the right people.
Speaker 1:Yes, absolutely. People don't realize how important that is, but you know the people you're around makes a big difference on your life.
Speaker 2:Especially nowadays, for sure. So is there one thing you wish our listeners knew about what you do, that maybe they wouldn't be too familiar with officer.
Speaker 1:You know we obviously want to do what's best for our client. But I take it more personal. You know this is it's important to me. It's not just about a transaction. You're not just another transaction to me, you're a person. You know everyone has a goal to be a homeowner.
Speaker 1:Whether you're buying your first home, you know something in your habit and your life changed that you need to go a different route. Get another home If you're downsizing. You know something in your life changed that you need to go a different route. Get another home If you're downsizing. You know, once people reach retirement they usually want to downsize. And it's about helping a client get into the right home, the right loan product for them. I'm here with you every step of the way. I think it's such a big goal for everyone to own a home and life and it really means a lot to me to guide you and be a part of that dream. And I keep in touch with my clients after the fact, you know, after the loans closed, I still follow up, check up on them, see if they need anything from me. It's more personal. It's not just a transaction.
Speaker 2:That is, you're providing that customer service that's lacking so much nowadays, right. It's nice to see somebody do that.
Speaker 1:Yes, absolutely.
Speaker 2:So how would our listeners go about contacting you if they had questions or wanted to learn more?
Speaker 1:Sure they could reach me on my cell. That's the best way to get ahold of me. You can call me, text me, and my number is 239-849-6886. Or you can email me Maxwell mortgage loans. com.
Speaker 2:Very good, any last words for our listeners today.
Speaker 1:No, I just wish everyone the best. You know, don't wait too long to buy that home, because I know a lot of people are waiting on the rates to come down. But once rates come down, prices go up, everyone's shopping, the market gets a little crazier. So if you're ready, call me. I'm happy to guide you every step of the way. And then remember, we can always refinance that rate once they come down. You're not stuck with it.
Speaker 2:Very good, very good. Pooja, it's been a pleasure getting to know you. Thank you for being such a good neighbor and we'll see you on the community soon.
Speaker 3:Thank you, thank you for listening to the Good Neighbor Podcast, bringing together good vibes, great neighbors, local businesses in Southwest Florida. To nominate your favorite local business to be featured on the show, go to CaboWaboJimcom. That's CaboWaboJimcom, or call 239-427-4100.
Speaker 2:Very good.