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Buying a new home can be one of the most exciting things you do in life. Or one of the most stressful. Perry Gaa, a private mortgage banker with William Pitt, tries to reduce some of that stress by helping unravel the mysteries of getting a mortgage.
Clients often come to me before theyve found a home, says Gaa. He likes to let clients know early on in the process what they need to do. We figure out what they can afford and then I coach them so there are no disappointments, he adds. Coaching a client means making sure all financial information is up-to-date. People have to be able to demonstrate that they have income to pay their debt. Proof of income includes two years of tax returns and pay stubs. And the lender will also want to know where the down payment is coming from. Is it a gift? Savings? Stocks? Gaa compares getting a mortgage to a puzzle and you need all of the pieces identified."
A Stamford resident for the past 20 years, Gaa believes theres more than one act in everyones life. Gaas first act lasted for 25 years and he spent a lot of it on the road working for "Golf and "The Week and Money" magazines, to name a few. A networking event led him to an old friend who was the CEO of a large mortgage company. He said I had many of the right traits to be a mortgage banker, says Gaa.
Perry Gaa is thrilled with Act Two. I work locally and spend more time with my kids, he says. And he has more time for his church, St. Michaels in Greenwich, and his hobbies, golf and salt-water fishing.
Are you hoping to buy a new home this year?
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