Since Kenwood Mortgage, LLC opened in Goodrich, local residents can secure competitive loans that improve’instead of sabotage’their finances.
Without jeopardizing privacy.
‘It’s a small town here, and it’s very sensitive information. You’ve got to respect that,? said Kenneth Wood, owner and president of Kenwood Mortgage.
Wood, who holds degrees in finance and economics from Northern Michigan University, as well as a Master of Business Administration degree from the University of Toledo, is an experienced loan officer.
Wood returned to his hometown of Goodrich to open Kenwood Mortgage in July 2004.
‘We have built our business on simple things such as calling people back, giving sound advice, and being competitively priced,? said Wood.
‘We actually do a lot of construction loans too’that’s kind of a nitch.?
Similar to an independent insurance agent who deals with multiple insurers, the full-service mortgage broker can access multiple investors who specialize in a range of programs.
‘It’s a matter of knowing what their goals are,? said Wood, who acts much like a financial adviser when considering the optimal lending program for each finance situation.
‘Really we’re just trying to help people understand the benefits and the pitfalls of different programs.?
For clients who want the stability of paying to one lender for the life of the loan, Kenwood Mortgage deals with certain investors that guarantee they won’t sell the mortgage note to other lenders.
In some situations a client may want to learn the advantages and drawbacks of interest-only financing that temporarily keeps mortgage payments at a minimum.
‘Some clients seek advice on how to best repair a negative credit rating, improving their odds of buying a home in the future,? says Wood.
Some look for a local broker who deals in home purchasing and refinancing; others want loans to obtain property or build a house, acting as their own general contractor.
‘Everyone is different and has a different situation,? Wood said. ‘We talk to or meet with a potential customer and determine what program best fits their needs, and provide them with interest rate and term options.?
‘Rates through Kenwood Mortgage may be even more competitive than directly through banks, for several reasons, including the ability to ‘shop around? for the right program, and holding overhead costs to a minimum,? said Wood.
‘We deal with a lot of places on the wholesale level,? says Wood.
Opening a full-service mortgage brokerage company in the Goodrich area was convenient and fulfilling for Wood.
A 1985 graduate of Goodrich High School, Wood relies on his reputation for integrity and treating clients like he’d like to be treated.
‘I want to be vested in the community where I live and my children go to school,? he said.
The staff of Kenwood Mortgage includes processors Deb Floria and Shirley Herman, along with seven full and part-time loan officers: Rob Bryant, Pat Callahan, Matt Kohl, Rich Kohl, Bob Little, Mike Shimskey, Cindy Shook, Louise Thomas and Ken Wood.