Experience, Knowledge and Respect
Lance Armer Santa Fe Mortgage 459 Cerrillos Rd. 505.988.2501 Armer.lance@gmail.com
By Debbie Stone Photos by Carolyn Wright
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efore 2008, there were nearly 800 independent mortgage brokers in New Mexico. Today, there are sixty. Among this select group is Lance Armer of Santa Fe Mortgage. “If I had to explain why I’m still in business after twenty-three years, it would come down to the fact that I had the tenacity and drive to hang on during the downtime,” says Armer. “I kept plowing on, turning on the lights each day, solving problems and trying to bring in business.” A modest man, Armer isn’t comfortable tooting his own horn, but when pressed, he will tell you that he’s done about 1,000 loans totaling $250 million. He built his company from the ground up and flies solo. “I don’t have any support staff,” he comments. “I’m it.” Referrals and
word-of-mouth are the way he gets his clients, many of whom have done repeat transactions with him over the years. Armer has many pearls of wisdom when it comes to mortgages. He points out a mortgage can make good fiscal sense even to an individual with a high net worth who can pay cash for his/ her home. He says, “Right now, you can borrow $417,000 for 15 years at a 3.125 percent interest rate and invest it to more than compensate for the interest you’d be paying on the loan. And you can pay the loan off at any time without penalty when the math quits working for you.” He explains, “You’ll spend $105,875 in interest over the fifteen years. Meanwhile, your $417,000 compounded at four percent interest grows by more than $350,000.” Armer notes that instead of locking up your money in the total purchase of a house, you can finance a portion of it. This is an attractive alternative, as it keeps one’s assets more liquid and flexible, with the potential of coming out substantially ahead over time. And, you can do this up to six months after you buy your house in cash. Armer
knows there are many variables involved, which is why he feels it’s important to educate people about their options. “If people understand their options, they can make educated decisions that are best suited to their situations,” he explains. The Santa Fe man does residential mortgages exclusively and works with people across the board, from first time buyers to multiple home owners. He strives to understand each client’s situation and isolate what is necessary to obtain the loan with the minimum amount of invasiveness. “I respect people’s privacy, realizing that many of my clients have complicated financial lives.” He adds: “I also try and make everyone feel comfortable, as the mortgage process can be stressful. I apply my experience to their unique situations.” Armer emphasizes he treats his clients the way he’d like to be treated if he were in their shoes. He knows he can’t succeed without having his clients succeed. “I can’t do what I don’t believe in,” he says. “I have always followed this rule and it’s worked for me and for my clients..