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Eric Ouellette: Making Mortgages Make Sense

Today’s real estate market is unlike anything we’ve seen in recent years, bringing home buyers stress, uncertainty, and frustration. Norcom Mortgage’s Eric Ouellette is a renovation loan specialist, and he offers guidance and advice that might be new to some readers.

The lack of homes for sale makes buying what’s available a tremendous challenge. “The market today is experiencing a serious lack of inventory,” notes Eric. “Renovation Loans create more options while giving you the house that you desire.  Many buyers can’t find their desired dream home that coincides with their budget. A renovation loan lets you purchase a fixer upper house and include within the loan the costs of renovating a garage, porch, kitchen, bathroom, or purchasing appliances, and so on.” Norcom Mortgage offers a range of renovation products, including USDA, FHA, VA, conventional mortgages, Mass Housing loans, and CHFA products.

Given how few homes are available, Eric suggests that buyers be open to homes they might not otherwise consider. “Buy any house in any condition, and customize it to your specifications,” is his advice. In addition, it’s vital to understand your budget – one call to your mortgage lender will reveal these details.

Eric advises buyers to avoid larger purchases and pay down credit accounts prior to applying for a mortgage. “We can help with credit counseling.  I’ve helped multiple people fix their credit and remove bad marks by going the extra step and contacting credit bureaus and past collections.  This boosts credit scores, which in turn gives you a better financing rate.  I will happily go the extra mile to get your financing needs in order.  Sometimes a planning for a few months down the road to get matters in line is the best solution.  It will save you money!  We also do debt consolidation refinancing.”

Helping others is one of the things Eric most enjoys about his work.  “I love making connections and helping people.  The joy of coaching people with their credit and home buying experience is genuine and fulfilling,” says Eric. His attitude is typical of the Norcom culture, which is focused on community. “We really do care about serving our community, whether it be with lending or community service,” he says, noting that recently, Norcom’s president joined Eric and his colleagues to serve a community meal for 135 people for the Franklin County Community Meal Program. 

“Norcom truly embodies a team culture,” Eric notes. The company emphasizes education, collaboration, and celebrating success while always keeping the customers’ goals in the forefront. “We are continually adding products…our progressive approach to lending means that we can offer all conventional and government backed programs (FHA, VA, USDA) and non-QM mortgage products including renovation and home improvement solutions with each.”

When he’s not on the job, Eric enjoys live music and outdoor activities. A West Springfield resident, he used to run the bar and manage drink development at the former Cellar Bar in Easthampton, and he’s currently developing a cocktail program at Judd’s, the restaurant at Gateway City Arts. Golf, snowboarding, camping, and kayaking are also among Eric’s leisure activities. He’s working on kayaking the Connecticut River and has completed nearly 200 miles of overnight kayaking along the river so far.

  • Eric Ouellette works out of Norcom's Belchertown office.
  • Kayaking is a favorite activity for Eric.
  • Golf is a great way to end the day.
  • Eric has kayaked and camped nearly 200 miles of the Connecticut River.