Making the most of opportunities
As someone who has made the most of the opportunity to come to the United States and work as a loan officer, she believes that her clients also need to find the right opportunities in their lives.
“It’s about opportunities first,” Khavo said. “Life always changes. They get married, get divorced, move out, or change jobs, and may need a bigger space. There are always opportunities out there.”
One of the opportunities she was able to take advantage of was offering second lien loan products to borrowers who are tied into low-rate mortgages. Many of those customers aren’t interested in refinances of their first mortgage, because they don’t want to give up that low rate.
Instead, they opt for second lien mortgages, such as a home equity line of credit (HELOC) or a fixed-rate home equity loan (HEL). So, when the time came to help current customers, Khavo started to focus on HELOCs.
“I learned how to find a new market,” she said. “The interest rate was so low a couple of years ago. Right now it’s higher. People don’t want to change their interest rate so that they will need a HELOC. I learned how to do HELOCs because people want the equity to continue to invest. In my first year, I did a lot because that was all we could do in the high-interest rate market. People want equity, so I focus on home equity lines.