A Legacy Helping Alaskans Find Their Path Home

For Lindsay Schram, a family legacy in the Alaska lending industry played an important part in shaping the course of her life – both personally and professionally.

“I am a generational Alaska lender,” she said. “My mother was an Alaska mortgage lender and told me throughout my childhood that I would love doing this for a living – but very few young people think they want to grow up to be their parents!”

While she wasn’t convinced that she wanted to work in the mortgage industry, Lindsay says that being exposed to homeownership success stories throughout her childhood influenced what she felt was possible for herself.

Lindsay and her husband were in their early 20s and married for less than a year when they started to look into homeownership. At a stage in life when many people think buying a home isn’t realistic, Lindsay knew that things that seemed improbable were actually achievable.

“I grew up hearing that it’s possible to buy a home. I heard stories about people in hard situations who were able to buy a house. I said, ‘Well, let’s just go talk to a lender and see what happens.’  We had to do a little work but we found out that there were options for us.”

During her own mortgage application process Lindsay learned that her mother was right – she would thrive in this industry.

“I love puzzles and I love people,” she said. “This was the perfect career for me.”

As Lindsay explains it, working as a mortgage lender combines problem-solving and people skills into a career that for her is interesting and personally rewarding.

“You get to know so many people and walk with them through a huge process. You create trust. At the same time, there’s a fun number puzzle that happens in the background.”

Mentorship in the mortgage industry

As Lindsay got her start in the lending world she continued to turn to her mother for guidance. After her first year of training, Lindsay had the chance to shadow her mother’s work and learn from the deep well of knowledge she had accumulated after a long and successful career.

“She was one of the best lenders in the state, in my opinion,” Lindsay says. “Because I had her with me, I was able to learn things in my first couple of years that would normally require a decade or more of experience.”

Lindsay says her mom was instrumental in teaching her how to navigate the financials and product guidelines of each loan in order to quickly find options for each client. Beyond these logistics, Lindsay says she learned from her mother a philosophy that has guided her throughout her career.

“Every person has a story. Being able to witness it, to value it as important and to figure out how I can support my client through it – that’s a gift. I learned that from my mom not just from working with her but from growing up watching her model this philosophy.”

Guiding borrowers on their path home

Now nearly 20 years into her own lending career at Residential Mortgage, Lindsay still draws from her own experience as a young homebuyer when helping first-time clients.

“My experience was that I didn’t know how to get into our first house but I knew there must be a path. If someone could show me the path, I would walk it. That’s what I tell my clients now – I’m there to help them find the path that leads to their home. There may be several steps to take but there are amazing loan products out there that can help people obtain homeownership.”

Lindsay turns to AHFC loan options as one of these resources, saying she keeps it on the table for every client.  “Alaska Housing has unique financing options that really help with some of the unique Alaskan properties. And they have wildly competitive rates. I always ask what the best home product for my borrower is and AHFC is always a part of that process for me because it’s such a great solution for so many potential homeowners.”

Building trust

Lindsay believes that education builds trust and confidence during the homebuying process. For potential borrowers who aren’t ready to talk to a lender yet but want a baseline of knowledge, Lindsay recommends free homebuyer education.

“Alaska Housing has a great course that can really help you understand the homebuying process in a low-pressure setting.”

“I also encourage people to talk to a lender. We're not going to charge you just to sit down and get information. We want to help you and set you up with the information you need to move forward.”

Lindsay acknowledges that for people unfamiliar with the homebuying process it can feel intimidating to approach a lender. She has noticed an increase in people trying to find information or loans through online searches, or getting loan estimates from online services, but she says it’s no replacement for local knowledge and the trust that is built through in-person dialogue.

“Meeting face to face with people who are local and invested in the community is a real gift in a time when so much information is available online,” she says. “When you work with a local company and build local relationships, trust develops naturally. You know that what we tell you and what we offer is what you'll receive at the closing table.”

As a lifelong Alaskan raising her four daughters in the Mat-Su Valley, Lindsay knows the value of lasting, local relationships that can span generations.

“Sometimes you can sense that a client worries they are going to be taken advantage of and they might keep their distance. But the reality is that building a good reputation and creating a trusting, lifelong relationship with a client are far more important to me than closing one loan. Lenders want to see their clients succeed, not just in the purchase of their first home but every home down the line.”

"I love Alaska and I love what I do. Ultimately, my goal is to create lasting relationships with my clients and be part of their financial story.”

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Find an AHFC-approved lending institution or contact one of AHFC’s Featured Lenders.

AHFC does not endorse specific mortgage lenders but we are pleased to highlight individual stories and partnerships. Thank you to Lindsay Schram, (NMLS #203842) of Residential Mortgage, LLC (NMLS #167729) for participating in this story.