Helping Homebuyers Get the Right Mortgage – The Oxford Eagle


Sponsored by Bank of England Mortgage – Oxford

By Hayden Wiggs

When asked why he chose to work in Oxford, Mississippi, Jake Ott, an Ole Miss alumnus and native of Mississippi, said, “Oxford is a great place. I love this city and especially its people. I want to do what I can to help people feel at home, build equity, and achieve the American dream. “

Her passion for helping clients compels her to educate everyone about the pre-approval process. Pre-approval is a complete application for a line of credit secured by a known or unknown property as full collateral with all of the income, asset, and credit information a lender needs to qualify a client for it. buying a house. Once pre-approved, the only piece left is the property, or the warranty itself, which is usually a formality.

With pre-approval from a local lender like Ott on the client side, the home buying process becomes simple, streamlined, and stress-free. He says it’s important to stay on top of the ever-changing rules and regulations (of which there are many), especially in these unprecedented times. In addition, all hurdles are cleared in the pre-approval process, such as setting a specific budget, keeping costs under control and knowing exactly what to expect throughout the process.

“With pre-approval in hand, customers have tons of knowledge that allows them to manage their own expectations as well as those of their families. No one wants to put mansion ideas in their partner’s mind when it might not be reality, ”Ott joked. “It never works well for anyone.”

He said the reverse is also true; you don’t want to settle for just anything when your dream home could in fact be your reality. With pre-approval, these things are all dealt with before you even search the web.

“Most of the time, we make pre-approved deals within two weeks,” Ott said. “It’s okay once pre-approved. If you’re not, it could go on for months.

He then embarked on a storyline, explaining the incorrect steps people often take during the home buying process. Ott cited mistakes such as unrealistic expectations and going straight to a number linked to a paid real estate agent ad on the website while visiting a home they love.

“When people shop at home without a prior letter of approval, they open up to a myriad of challenges, surprises and obstacles,” said Ott. “Even the most seasoned and financially sound homebuyers face unpredictable problems all the time. That’s why the first step is always to get the pre-approval from an experienced, knowledgeable and local lender. Let’s take the stress and uncertainties out of the process before we even do a research.

Another thing is to strengthen your offer with the pre-approval letter. When there are competing offers as is often the case in this hot real estate market; the offer with the attached pre-approval letter wins every time.

Ott’s Bank of England branch is committed to ensuring that its Oxford clients experience this process stress-free by providing transparent and professional services to meet client needs.

“When you come into BOE Ole Miss’s Jake Ott team, you come into a team that knows every player in the game, from all sides of every deal,” Ott said. “We interact transparently and constantly communicate with every borrower, real estate agent, insurance agent, the legal team and appraiser to ensure a seamless transaction. And, because I care about Oxford and the people here, I take every file very, very personally, because it’s my livelihood and it’s your life. It’s not work when you love what you do and all the players in this market. Everyone we deal with is awesome here, and it truly is a wonderful and rewarding thing to help people become homeowners while dealing with great friends and people all day long.

For Ott, the job is all about communicating with his customers.

“Even if you call me at the restaurant, he said, much to my girlfriend’s dismay, I’m going to pick up the phone!” We want to be accessible and I want every customer to feel like my only customer. I want them to know that I am there for them, to present all the information on the front end so that they can relax until it is time to close. This is the name of the game.

Ott’s vast knowledge comes from his many years in the mortgage industry. After obtaining his MBA from the University of New Orleans in 2011, Ott was brought into the mortgage industry in New Orleans by a dear friend and his father.

“At the time, I didn’t even know how to spell the word ‘mortgage’, let alone anything about the industry,” Ott joked.

Five years later he moved to Oxford and later opened a branch for the Bank of England. Although the company is slightly smaller than some of its domestic competitors, Ott sees this as one of their strengths.

“It’s a wonderful business,” said Ott. “We have autonomy and we have the capacity to make loans if necessary, because we have a direct line with the people who manage the

business and can make quick decisions. They work hand in hand with us to make sure we are all on the same page and strive to perfect our process and treat every customer as if they were our only customer. Our team of six is ​​amazing; we all work on issues together and have a great time helping people make their homes their homes. Whatever the challenges, we stay positive. We stay together, we are family and we will fight and fight harder than anyone for every customer. This is what sets us apart.

With Jake Ott’s team, buying a house in Oxford has never been easier. Caring staff, local lenders, and a company dedicated to their city and market ensure a fast, stress-free experience.

For more information, please contact Jake Ott of Bank of England Mortgage by calling 662-832-4663 or emailing [email protected]


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