Q&A with a Loan Officer: Mike Bertarelli

Q&A with a Loan Officer: Mike Bertarelli

In this Q&A, I spoke to Mike Bertarelli about his role as a loan officer. He talked about why he chose to work in the mortgage industry, what motivates him to keep climbing and his top tip for people looking to buy a home.

Why did you choose to get into the mortgage business?

For me, it was not really a choice. I came into this position after graduating from college in 2014. During this time, I had worked a few sales jobs. The mortgage industry fell into my lap at this company. I kind of jumped on it. I knew it would be a lot of customer-based work. It was really important to me to not just sit behind a desk and plug away on data entry.

I like to talk to people. I found out quickly that there is a lot that goes into a mortgage. I realized how big getting a mortgage is for people, how there are many factors that go into it, and it made me stay. The importance of mortgage itself made me want to help others.

I have been with the company for five years. I went to the University of Missouri – Columbia (Mizzou) and graduated with a bachelor’s degree in business administration with an emphasis in marketing.

What does a typical day look like for you?

As a loan officer, my days kind of blend together. We’re on our phones a lot since everything is digitized. One thing you learn quickly in this position is that our clients also have jobs. It’s my job to handle things for them outside of work hours. I would say you wake up, check emails, and make sure you’re getting priorities on from the night before.

Whether something pops up with the IRS or an income issue, we hop on them pretty quick. I work with a lot of different clients across the country. How my day looks will depend on each loan situation. We go through the pipeline to make sure our customers are updated with what’s happening with their loan, which takes one to three hours a day. We’re known for not being a big bank but rather people who want make the mortgage process a little easier for our clients.

The approach I take is that our clients are hands-on and want to know what we’re doing to accomplish their goals. We get a lot of incoming inquiries from commercials shown during sports games. We are also known for following up with people who reach out to us. I prefer to call and talk to people as opposed to email because it’s more personable. The rest of my time is spent taking care of things that pop up. No two days are the same in the world of a loan officer, which makes my job pretty cool. It’s always changing.

What motivates you to keep climbing every day at work?

I think it’s a great question to ask now. Working from home can be a challenge. We have our professional goals. It’s not just about meeting the goal for the company, but I take the clients into consideration. They have real lives that will be affected by their decision to buy a home and use us to do their loan. To me, I always think about how we can be the best lender. There are hundreds upon hundreds of lenders. When I get a client, I think to myself that they chose us, and I take the responsibility of this seriously. I enjoy the prospect of helping people out with their situation.

I have a personal duty to my job. Loan officers take an exam to become accredited by different states in order to do this line of work. You know this is a serious job when you talk to people about their careers’ worth of finances to buy a home or completing a cash out refinance because so much is riding on the line for the client. To be able to figure out solutions and help people to get where they want to be with their finances is rewarding in a sense. People can get so much out of having a lower mortgage payment such as pay off their student loans or pay off other significant debt. To the average borrower, their home payment is their biggest bill or their biggest piece of debt.

You have to be on your “A Game” because you’re dealing with the livelihood of another person. There are probably loan officers out there who clock in at 9 a.m. and out at 5 p.m. We don’t live by that here. Ryan Kelley had a hand in training us to handle the position responsibly. We honor that people trust us with this important decision so sometimes we work around the clock to do a good job in our positions.

What is your top tip for people looking to buy a home?

Do your research!

I think there is a lot of information out there that is really important that you should look into. You should call us (shameless plug) if you have any questions about anything. The odds are good that the questions you have are questions that we have already answered. You must really figure what you want before you make that call.

Additionally, make sure you are prepared to handle the cut-throat market we have right now. You can’t be on the sidelines. You have to be all in, prepared and ready to make the decision on the home you want to own. Once you do all of this, the hardest part is over. We can take it from there.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate.

Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Tips For Selling Your Home During Winter Months

Tips For Selling Your Home During Winter Months

The housing market has experienced an exponential increase in demand for houses. As a result of this, it is a great time to sell your home. Let us tell you more about why it’s a great time to sell even though we are currently in the middle of winter and a pandemic.

Under normal conditions, selling your home during the winter could come with its unique challenges. You would need to make your home “seller friendly.” This means that you need to make sure that the home is updated, looks attractive to borrowers, and been cleared of any cosmetic problems. The walls should have a fresh coat of paint and there should be new flooring. Some folks complete a full renovation of their house from top to bottom This includes making sure every room looks good, updating any lighting fixtures, and making sure home appliances are up to date. The appraisal of your home needs to be on par with the asking price.

Another thing you would need to do in a “normal” market is set yourself apart. Before the pandemic happened, there was a slightly different process for viewing a home. There would be a showing where a realtor would set up sandwiches in the kitchen and stage the home so borrowers could see themselves living in the space. Viewings are important because borrowers need to imagine what their life could be like in the home.

House showings have been different during the pandemic. People cannot just walk into an open house, so the housing industry has gotten more creative. There are apps that borrowers can use to schedule viewings. Regulators have also placed limits on the number of people who can see a home at a time. Virtual home tours are becoming an increasingly popular way to look at homes.

The demand for new homes has come from an abundance of different places. When people sell their homes during the winter, it is typically harder because the supply is higher than the demand of the home. Currently, this is not an issue because the supply is not keeping up with the demand in the housing market. People who are currently working from home with their spouses and/or children are realizing they need more space.

When working in close quarters with others, it has made people come to the realization that upgrading their space would be beneficial. An issue some people have is that they are hesitant to move during the winter because this would interfere with a child’s schooling. Moving right now is a little easier than it has been in recent years.

Right now, it does not matter when you sell your house. The usual hurdle associated with selling your home during winter months could be the curb appeal of the home. The front yard or garden may not be as vibrant as it would be in warmer months. Imagine looking at a nice two-story house with a fresh paint job on the outside, a newly manicured garden, and a clean driveway. This entices the borrower to see what else the home has to offer.

The season changes are usually not as noticeable in states with a warmer climate, like Florida, Alabama or Arizona. In places where it is warm all year-round, this would not be an issue. With this in mind, it is a little easier to sell a home in states located in the southern parts of the country because curb appeal can be maintained.

The natural next question to have is what’s next. If you want to buy another home, you want to put your trust in a reputable lender. Rates are in the two’s, which makes it a great time to buy a home or refinance for a lower mortgage payment. If you’re prepared to take the next step, we can help!

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate.

Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

A Great Time to Refinance

A Great Time to Refinance

With national mortgages rates at historic lows, people are considering the option to refinance. Let us tell you why people around the country are refinancing their homes right now and saving money on their monthly payment.

Refinancing is an option that homeowners look at their mortgage to see if they can get a lower monthly payment.  In 2020, our borrowers who completed a rate and term refinance with a 30-year term saved on average about $339 per month. You may ask yourself what is that? Simply put, a rate and term refinance is when you adjust the interest rate and term of your mortgage while maintaining the original remaining principal amount.

Other options include a cash out refinance. You essentially trade out your current loan for a new one, but you can take out the monetary difference between the two loans in cash. This option is appealing to homeowners because they can put this money toward a financial goal.

Mortgage rates are changing all of the time, but they have been consistently low over the last few months as the market has struggled. Rates are in the two’s to be exact! This means that homeowners have the opportunity to examine options available to them to see if they can get a lower rate. If you can get a lower payment, think about the money that you can save or direct toward another financial goal.

A question you should ask yourself, as you consider refinancing, is: What would you do with an extra $300 a month, which was only the average in 2020? This is Here are some different things that you could do with the money you saved on your mortgage payment.

Consolidate your debt

One way to use the money is to consolidate your debt, which can raise your credit score. You can pay off your credit card debt, student loan debt, and any other obligations you may have right now. If you take care of the debt now, you should have more money for the things you want in the long run.

Go on a family vacation

The current global health crisis that we are living through has caused certain changes in our day to day lives. Travelling may not look the same for us especially with certain countries placing restrictions on tourist travel. However, there are ways to get around this. You can take a solo or family vacation into the woods. The benefits of this includes fresh air, activities like fishing and hunting, and getting away from the busy city life. You work hard. You deserve a moment to unwind every now and then.

Another vacation related thing you can do is plan for one. Let’s say you have the money you need for the vacation you want right now, but the country has travel restrictions. You can save money to take the vacation you want when the country you want to visit is open to visitors.

Purchase a new car

Aside from a house, one of the other biggest purchases you’ll make in your life is a car. There are nice sports cars, affordable family vehicles and sustainable, electric cars. Everyone’s dream life looks a little bit different. A cash out refinance could potentially supply a person with the funds to buy a new car.

Do home improvement projects

With the money you could receive from a cash out refinance, it could go towards home improvements. You can use it to buy the new refrigerator you’ve been eyeing or complete that new fence project you’ve put off for months. You could even upgrade your laundry game with a new washer and dryer. Home improvement projects take time, patience and a little extra cash to make it happen. A cash out refinance could be just what you need to update your home. Making sure your home it up to date is also important when it comes to selling your home.

Buying a home is only the first step in your life as a homeowner. It is up to you to keep climbing to get the best mortgage. We can help you refinance in as little as 14 days. Our excellent customer service will keep you informed and confident every step of the way. Our streamlined process takes care of the refinance process from start to finish. Give us a call today!

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate.

Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Happy Black History Month From Us

Happy Black History Month

It’s February! You know what time it is.

February is Black History Month. It is a time where the great work and accomplishments of African Americans are recognized and celebrated. The overwhelming number of obstacles and hardships that African Americans have faced in this country is truly astounding. We support African American men and women who have made our country a better place. We would like to take some time to talk about the pioneers, leaders and innovative individuals who didn’t let up and made it happen despite the odds.

From finance to mainstream news, African Americans made major contributions to our world. Since “Black History” is often overlooked, we would like to take the time to look at great moments in time, including now, to appreciate the work being done to move everyone forward.

Black Excellence in the Finance World

As unified as we are today, we recognize that it hasn’t always been this way. During a time of segregation and a lack of resources, there had to be people who said enough was enough to accomplish great things in our world. America has gone through a lot of difficult yet beneficial changes over the decades. The mortgage industry is just one major sector under the umbrella of financial areas. The different types of financial institutions include banks, credit unions, investment companies, brokerage firms, insurance companies and mortgage companies.

Here are three trailblazers we wanted to highlight that made some major contributions to the world of finance.

Ben Slayton

Slayton became the first African American realtor in 1964. He went on to become the first African American mortgage company owner and broker in the United States. This is a major accomplishment to overcome the barriers set in place prior to the Civil Rights Movement. The ‘60s were all about fighting the discriminatory institutions in place to make life better for everyone. Slayton’s story is one that proves if you put in the hard work that anything is possible.

Maggie Lena Walker

In 1903, Maggie Lena Walker founded the St. Luke Penny Savings Bank. Walker was the first woman of any race to charter a bank in the United States. This was a major move during this time when women’s rights and African American rights were unheard of. It took a lot of work and courage for Walker to make her vision come to life.

Kiko Davis

Black History is not only made up of accomplishments from the past. It is an ever-growing history that is being made to this day. Fast-forward to the present, there is only one African American woman in the U.S. who owns and operates a bank. Meet Kiko Davis.

Kiko Davis is a major stockholder of the First Independence Bank as a trustee of the Donald Davis Living Trust. This is the tenth-largest African American-owned bank in the country. This major accomplishment shows that if you keep climbing you will succeed.

To sum it all up, Black History Month is great for retelling stories of the past and sharing what’s currently happening in our country. Feel free to share this post on social media to highlight good work and never forget to keep climbing.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate.

Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Buy Your Dream Home in 2021: Part 3: Make It Your Own

Buy Your Dream Home in 2021: Part 2: The Mortgage Process

In this second installment of this series, we will talk about the ins and outs of the actual home loan process.

Buying a house can be a daunting task, but when you break a larger task into smaller parts, it becomes more manageable. We are here to empower you with the knowledge you need to go into the process confidently.

The steps you need to know will be broken down into pre-approval, an appraisal, underwriting, and closing. The sections below will guide you easily through the process.

First: Get pre-approved

The pre-approval process can start with the 5 minute loan approval. You will need to inform the lender of your credit score, employment history, budget, and how much you have for a down payment.

The lender reviews this and other important information, after which they may offer a pre-approval letter. If after reviewing the information, and the lender does not see any reason why you couldn’t buy a home for what you’re looking for, you can move forward to the next step.

Second: Get an appraisal

Often, a lender must obtain an appraisal to determine if the home’s value supports the requested loan amount.

Third: Get the loan approved

Once the appraisal is complete and the home is worth the investment, the file is sent to underwriting. In some cases, there are lenders who have underwriters who work for them. Underwriters go through everything with a fine-tooth comb to ensure the file meets all loan product and regulatory requirements to approve the loan.

Last: Closing

Once the contract has been submitted for “clear to close,” the lender can close the loan. This will result in closing costs, but first-time homebuyers can seek out programs where they may not have to come out-of-pocket for them. And that’s it!

Hopefully, the breakdown of this process will get you one step closer to owning your dream home. In the last post of this series, we will talk about the benefits of owning a home versus renting one. Stay tuned!

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.
John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Buy Your Dream Home in 2021: Part 2: The Mortgage Process

Buy Your Dream Home in 2021: Part 2: The Mortgage Process

Go back to: Mortgage News | Homepage

Buy Your Dream Home in 2021: Part 2: The Mortgage Process

Buy Your Dream Home in 2021: Part 2: The Mortgage Process

In this second installment of this series, we will talk about the ins and outs of the actual home loan process.

Buying a house can be a daunting task, but when you break a larger task into smaller parts, it becomes more manageable. We are here to empower you with the knowledge you need to go into the process confidently.

The steps you need to know will be broken down into pre-approval, an appraisal, underwriting, and closing. The sections below will guide you easily through the process.

First: Get pre-approved

The pre-approval process can start with the 5 minute loan approval. You will need to inform the lender of your credit score, employment history, budget, and how much you have for a down payment.

The lender reviews this and other important information, after which they may offer a pre-approval letter. If after reviewing the information, and the lender does not see any reason why you couldn’t buy a home for what you’re looking for, you can move forward to the next step.

Second: Get an appraisal

Often, a lender must obtain an appraisal to determine if the home’s value supports the requested loan amount.

Third: Get the loan approved

Once the appraisal is complete and the home is worth the investment, the file is sent to underwriting. In some cases, there are lenders who have underwriters who work for them. Underwriters go through everything with a fine-tooth comb to ensure the file meets all loan product and regulatory requirements to approve the loan.

Last: Closing

Once the contract has been submitted for “clear to close,” the lender can close the loan. This will result in closing costs, but first-time homebuyers can seek out programs where they may not have to come out-of-pocket for them. And that’s it!

Hopefully, the breakdown of this process will get you one step closer to owning your dream home. In the last post of this series, we will talk about the benefits of owning a home versus renting one. Stay tuned!

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.
John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

The Dream Lives On: Happy MLK Day

The Dream Lives On: Happy MLK Day

Go back to: Mortgage News | Homepage

The Dream Lives On: Happy MLK Day

The Dream Lives On: Happy MLK Day

Happy Dr. Martin Luther King Jr. Day!

This day honors the late civil rights activist and clergyman for his work and accomplishments in the United States. Dr. King led many demonstrations and protests in the name of equality for all.

Dr. Martin Luther King, Jr. Day, or MLK Day as it is commonly known, is traditionally known as a day where people volunteer their time and participate in community service projects. We are no strangers to giving back to the communities we serve. In the past, we have supported Climb For The Kids, the Bataan Memorial Death March, and other charitable activities.

If you’re looking for a charity where you can volunteer some of your time on MLK Day, and you either live in or are visiting the St. Louis area, here are a few organizations we have worked with in the past that could use a good helping hand:

Friends of Kids With Cancer

Friends of Kids with Cancer was founded in 1992 by Jill Turec, a Developmental Specialist, along with Molly Henry and Suzie Snowden, who were parents of children in treatment. Molly and Suzie witnessed their kids’ struggles and saw the need for diversions in their lives. Friends of Kids with Cancer has a 28-year history of helping kids with cancer just be kids in St. Louis.

St. Patrick’s Center

St. Patrick Center provides opportunities for self-sufficiency and dignity to people who are homeless or at risk of becoming homeless. Individuals and families build permanent, positive change in their lives through safe and affordable housing, sound mental and physical health, and employment and financial stability.

Catherine Cares

Catherine Cares donates their services to our hospital, maternal and fetal center, and doctor office partners. These partners give the items to the families on behalf of Catherine Cares. Since their launch on December 20, 2014, they have given hospitals over $11,000 worth of restaurant, fuel and grocery gift cards to our hospital partners. Catherine Cares offers many fun and unique ways for individuals to support our mission and the families we serve.

Girls On The Run

Girls on the Run is a physical activity-based positive youth development program (PA-PYD) designed to develop and enhance girls’ social, psychological and physical competencies to successfully navigate life experiences. The mission of Girls on the Run St. Louis is to empower girls for a lifetime of healthy living. Their program for girls in the third through eighth grades inspires girls to be joyful, healthy and confident using a fun, experience-based curriculum which creatively integrates running.

FightDMD

Currently, FightDMD is raising money to initiate the research to find a cure for Duchenne Muscular Dystrophy. If their foundation is a success, the foundation will be eliminated and DMD kids will live a long and healthy life. FightDMD is supporting Vanderbilt in their efforts to improve care, advance cardiomyopathy research, and educate the primary care physicians and patients about Duchenne. In 2018, they pledged $40,000 towards research. So far, they have committed $250,000 to research at Vanderbilt with plans to continue working towards $500,000.

Sydney’s Soldiers Always

The Sydney’s Soldiers Always Foundation believes that children are the greatest resource and treasure, who deserve more than 4% of federal funding for cancer research. No child or family should fight alone. The wishes, needs, and rights of clients (pediatric cancer patients and their families) are to be given consideration before that of board members or other representative of the foundation.

We hope you take some time today to think about what ways you can give back and the great future that lies ahead. It takes all of us to make a lasting change; we hope you’re as inspired as we are to make this world better for everyone.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.
John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Buy Your Dream Home in 2021 Part 1: The Preparation

Buy Your Dream Home in 2021 Part 1: The Preparation

Everyone has a vision of what their dream home looks like. Some people love a spacious kitchen and others love a big, open backyard complete with a swimming pool. Once you have decided what you want in a home, you may ask yourself, what is the next step? The answer is that you must prepare for the mortgage process.

Setting yourself up for success includes preparing for the mortgage process. Lenders look for potential homebuyers who have a few things nailed down. It makes them more willing to approve the loan you are looking for.

For this post, we talked to mortgage professionals and asked them what people should work on when looking to buy a home. The sections below talk about credit scores, budgets, and the down payment on a home.

First: Assess your credit

The better your credit score, the more likely it is that you will get the home you’ve always dreamed of. According to FICO, mortgage industry most credit scores range from 300-850. Scores on the higher end of this spectrum increase your chances only securing the home you want.

Second: Determine your budget

Creating a budget is essential to make sure you can afford what you want to buy. Figure out what houses are in your price-point so that you don’t fall in love with a “forever home” outside of your budget. This tip is a life saver – believe us!

Third: Understand down payment

Down payments are one of the most important steps in buying a home, although some loan programs may not require one. A down payment typically represents a percentage of the full purchase price. This is money you should save, set aside, and have ready for the home you get approved for.

Now that you have more information on the preparation necessary for buying your dream home, in our next blog post, we will discuss the actual process. It will not be anything too difficult to follow. We will keep it straightforward to build your confidence in finding your dream home.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

Arien Bowersock

Arien Bowersock

I was born in Lubbock, TX and came to Austin in 1998 to attend the University of Texas. After graduating, I knew I didn’t want to leave Austin. On a whim, I took a job as a loan officer assistant and I haven’t looked back since! With over 15 years in this industry I know this market well. Not only do I help my clients with their mortgage, I assist with all other home buying needs. Whether it’s deciding on the best neighborhood, choosing a realtor, or giving my opinion on a paint color- I am here to help!

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Buy Your Dream Home in 2021 Part 1: The Preparation

Buy Your Dream Home in 2021 Part 1: The Preparation

Everyone has a vision of what their dream home looks like. Some people love a spacious kitchen and others love a big, open backyard complete with a swimming pool. Once you have decided what you want in a home, you may ask yourself, what is the next step? The answer is that you must prepare for the mortgage process.

Setting yourself up for success includes preparing for the mortgage process. Lenders look for potential homebuyers who have a few things nailed down. It makes them more willing to approve the loan you are looking for.

For this post, we talked to mortgage professionals and asked them what people should work on when looking to buy a home. The sections below talk about credit scores, budgets, and the down payment on a home.

First: Assess your credit

The better your credit score, the more likely it is that you will get the home you’ve always dreamed of. According to FICO, mortgage industry most credit scores range from 300-850. Scores on the higher end of this spectrum increase your chances only securing the home you want.

Second: Determine your budget

Creating a budget is essential to make sure you can afford what you want to buy. Figure out what houses are in your price-point so that you don’t fall in love with a “forever home” outside of your budget. This tip is a life saver – believe us!

Third: Understand down payment

Down payments are one of the most important steps in buying a home, although some loan programs may not require one. A down payment typically represents a percentage of the full purchase price. This is money you should save, set aside, and have ready for the home you get approved for.

Now that you have more information on the preparation necessary for buying your dream home, in our next blog post, we will discuss the actual process. It will not be anything too difficult to follow. We will keep it straightforward to build your confidence in finding your dream home.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate. Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

John Schutze

John Schutze

John Schutze was born and raised in Austin, TX and graduated from Texas State University with a degree in finance. Beginning his career as a financial advisor, John has a unique perspective when it comes advising his clients on the best mortgage type for their financial plan. With almost 20yrs experience in the mortgage industry, John has helped over 1500 families purchase or refinance their home.

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.

Winding down from the holidays? Perfect time to refinance

Winding down from the holidays? Perfect time to refinance

Go back to: Mortgage News | Homepage

Winding down from the holidays? Perfect time to refinance

Winding down from the holidays? Perfect time to refinance

Okay so you have made grandma’s recipe for the perfect pot roast or oven baked ham and ate well, spent time with your family over a video call, and enjoyed a bunch of holiday movies in your beautiful home. Now what?

An estimated 19 million homeowners in the U.S. can benefit from refinancing their mortgage payments, that will save money on a long-term scale. According to Black Knight, a data and analytics provider for the mortgage and real estate industries, the incentive to refinance remains high for homeowners with a 30-year mortgage.

As of January 5, 2020, here are the mortgage rates in the United States were found to be as low as:

15-year fixed rate:  2.44%

30-year fixed rate:  2.75%

If not now, refinancing is a great way to save money on your home. You have already bought it, settled in, and created a bunch of memories, so one way to enhance your home experience would be to pay less on your mortgage payment.

Working to refinance your home is not the simplest task to do. You are basically taking out another loan like when you bought your house the first time. However, there are payoffs associated with doing this. Here are some things to consider when refinancing your home.

Consider your interest rate

Refinancing your home will not automatically reduce your monthly rate. You must be strategic about it and enlist the help of people who have experience with home loans. Our mortgage company employs the best of the mortgage industry. We have experienced loan officers with proven track records in getting our clients what they want, which is ultimately savings and the best deal.

Consider your timeline

It may not be the best move to refinance a loan that is nearing its completion. You must keep track of where you are at in your home loan to make the best financial decisions. Will you be moving to another state? You may want to keep the home and rent it out and, in this case, refinancing could be a great option.

Consider your employment

Are you an educator who teaches students what they need to know to be successful? Are you a veteran who has dedicated their life to the service? Are you a medical professional or a first responder who has spent most of 2020 making sure every day American citizens are taken care of? You will want to look for programs, such as the Teacher’s Appreciation Program, Hero Loan, and the Healthcare and First Responders Program to serve your needs. These programs are designed to help hard-working citizens who are hometown heroes because these essential services keep our communities together.

Cheers to the new year. In our next article, we will talk about how you can prepare to buy a home in the new year. 2021 is essentially here, so it is time to start planning.

While you check out the Schutze Team Facebook page, stop by our website at theschutzeteam.com to see how much you can save on your mortgage by refinancing with a low mortgage rate.

Call the best mortgage lender in Texas, John Schutze’s Texas Loan Experts Team in Austin at (512) 775-6820 or visit JohnSchutze.com to apply now. Texas Loan Experts has the lowest rates on ConventionalFHAMortgage RefinancesJumbo LoansDebt Consolidation LoansRate and Term RefinancesCash Out Refinances, and HARP Loans. We are also the exclusive home for Hero.Loan VA Mortgages. We will come to you to close your loan. Nobody gets lower mortgage rates on better loans than Texas Loan Experts.

Arien Bowersock

Arien Bowersock

I was born in Lubbock, TX and came to Austin in 1998 to attend the University of Texas. After graduating, I knew I didn’t want to leave Austin. On a whim, I took a job as a loan officer assistant and I haven’t looked back since! With over 15 years in this industry I know this market well. Not only do I help my clients with their mortgage, I assist with all other home buying needs. Whether it’s deciding on the best neighborhood, choosing a realtor, or giving my opinion on a paint color- I am here to help!

John Schutze

As one of the area’s top mortgage bankers for over 17 years, John Schutze considers his #1 goal to be providing a smooth and predictable mortgage experience for all involved. Named the 2017 Mortgage Professional of the Year by Austin Monthly, John has also been consistently selected for the Austin Business Journal Top Producer List.

The John Schutze Show

Recent Posts

How Can We Help You?

Texas Mortgage Lender

Texas Home Loan Pre Approval

Why Choose

The John Schutze Team

CUSTOMER SERVICE
Our customer first approach to mortgages is what separates us from all of the other banks and mortgage companies. Our team will walk you through the process to ensure that your loan closes in a very timely manner. Our competition may think our philosophy on face-to-face customer service is excessive but our clients sure do appreciate it.

WE ARE THE EXPERTS
Our team has set the standard in the mortgage industry. We hire only the best in the business. Our knowledge and experience is unmatched. We continue to train and study new mortgage loan programs to make us the best choice for mortgage refinancing and home purchases, debt consolidation, Conventional, FHA, HARP, VA, and Jumbo Loans available.

BETTER HOME LOANS WITH LOWER MORTGAGE RATES
We provide you with several different mortgage loan options to ensure that you find the mortgage loan program that best fits your needs. Because of the volume of mortgage loans our team closes and the great relationships we have forged within our industry, we’re able to offer the most competitive mortgage interest rates to our clients.

WE ARE MORTGAGE LENDERS, NOT MORTGAGE BROKERS
As a direct mortgage lender, our process has been streamlined from start to finish. Having the entire mortgage loan process contained under one roof allows us to quickly and efficiently close your loan. Our ability to use the newest mortgage loan products and underwrite our own files, allows us to approve loans that our competitors can’t.