With 30+ years of real estate experience, Terry Gangaram founded Drexel Mortgage in 1995 to help Americans nationwide make their American Dream a reality.
Starting with residential mortgages, Terry has helped thousands of homeowners buy their first house, investment properties, and commercial real estate to grow their business. Terry’s team at Drexel is committed to finding you the financing you want for the home you want.
Terry, why did you choose the financial sector for your career, namely the mortgage business?
Hi thanks for having me on your blog. I chose the mortgage business from personal experience in the mortgage business.
When I bought my first home I realized all the things I was interested in making the home mortgage process easier for everyone. That’s when I started Drexel Mortgage. Drexel was founded to make it easier for people to get a loan to buy the home they want.
Was it difficult to succeed? This is a very competitive field, right? Every business has is a journey but I kept at it, persevered through the early stages of the business. The success of Drexel comes from doing right by the clients.
When the clients are happy then the business succeeds.
Customer service, core values, honesty are all things which help make success possible, consistent values, trusting the business to come through when the customer needs the business the most is what Drexel Mortgage is all about.
What was the worst moment of your career and why? And also the best moment and why? The worst moment of my career was during the real estate bust. It was a surprise to see many companies, people, impacted by the bust. Real estate is a trusted household name so it´s important to keep values protected in real estate.
The best moment of my career was when I first started Drexel Mortgage. Since then I’ve been able to provide loans to people all over the country so they can expand their homes, and businesses. Starting Drexel has been one of the best decisions I’ve made.
What advice would you offer to a first time home buyer? Advice I’d offer to a first time home buyer is, it is important to know which homes you’re pre-qualified for. That way you can save everyone time in the loan process.
Drexel Mortgage provides pre-qualification letters to first time home buyers before they start the loan process. Therefore home buyers know exactly which houses they can buy without any surprises in the loan process.
If you could change anything in your career, what would it be and why? It´s been a great journey building Drexel Mortgage over the past 25+ years. I started Drexel to make it easier for people to enjoy buying real estate.
It would be great to simplify the real estate market process as much as possible, reducing the clutter, the paperwork, red tape, unnecessary bureaucracy. Real estate can really be a fun easy-going process once all the mysteries, myths, confusion is put to rest.
Call me at Drexel Mortgage, (718) 441-1515, I’d be happy to answer your concerns, put you on the right track to homeownership. Alternatively, you can email me.
Where do you see yourself in 5 years time? In the next 5 years I’d like to remain a core NY residential lender, but to be able to offer commercial loans throughout the country. Especially to small business owners, whether it may be traditional commercial loans, or stated income loans to the small business owners who are unable to document their income.
Thank you for a great interview.