Loan officer and renovation specialist
AMERIFIRST HOME MORTGAGE
One of AmeriFirst Home Mortgage’s top producers in renovation loans for the past two years, Perry Farella has been in the mortgage business since 2002, after leaving a career in software sales and consulting. During that time, Farella purchased, designed and sold his own homes, and even had his Realtor license, but he realized he got more enjoyment from the financial aspect of real estate and decided to focus solely on lending.
Over the years, he has carved out a niche in rehab and renovation loans. “It’s a growing area of lending that many loan officers do not venture into due to the complexity of working with general contractors and managing rehab funds,” he says. “My approach is to always be and present myself as a ‘subject-matter expert.’ I educate buyers, real estate brokers and owners on how a renovation loan provides funds to update and repair a property all in one loan, with one payment. When you are seen as an expert, clients feel they are in good hands.”
Farella is active with the Chicago Historic Bungalow Association and the Berwyn Historic Bungalow Association, and writes a blog called Rehab Dollars & Sense that helps people understand how to undertake and finance home renovation projects.