While 38 Mortgage is equipped to handle any borrowing needs, catering to a variety of circumstances and financial situations, it’s not the access to financial products that sets them apart. What sets them apart is Arlene Serrano, the face of 38 Mortgage.
With more than 16 years of experience in the industry, Arlene knows how to navigate the lending maze with surprising efficiency. As a woman, she brings a fresh perspective to the industry, leading clients through the mortgage process with an educational and relationship-first approach. Arlene coined the firm’s tagline, “We’re great at people. Mortgages too.” emphasizing her commitment to putting clients’ needs above everything else.
Arlene and her husband and business partner, Michael, go to every closing. That’s an unheard-of practice in an industry typically driven by volume and commission checks. But Arlene sees it differently. “We see a lot of first-time buyers, especially college students that have just come into the workforce. They have little to no experience making big financial decisions, and this is the most significant transaction of their lives. They have doubts and lingering questions that a real estate agent or title attorney may be unable to answer. I love being there to provide that assurance and to be a guide.”
When asked how they would describe 38 Mortgage, they emphasized the importance of relationships. Not just client relationships but relationships across their business network and throughout the community.
Arlene said, “38 Mortgage is fundamentally a relationship-based company, putting people first in everything we do. We avoid lead-generation tactics that treat individuals as numbers, preferring to build our business on referrals and genuine connections. When people see our gold stamp, we want them to think of family, friends, and trusted relationships. Our approach is local and personal; even if we’re working on a loan in Charlotte, our clients know who we are—a live person, not a faceless entity behind a 1-800 number. We pride ourselves on being accessible, whether it’s 10 PM and there’s a pressing question about due diligence or over the weekend when uncertainties arise. Our commitment is to be more than just a service provider; we aim to be an integral, reassuring part of our clients’ lives.”
Michael followed, “We see ourselves first and foremost as a people-centric business. It’s not just about closing deals; it’s about being a reliable resource for anyone needing guidance or a second opinion to ensure they’re making informed decisions.”
38 Mortgage offers a wide range of flexible programs beyond what you might find with standard banks or local lenders. As a broker, they have the capability to navigate through a diverse array of loan options, including government loans like FHA, VA, and USDA. They managed to get a USDA loan from application to clear-to-close in just 17 days—a feat that often surprises people accustomed to expecting longer processing times for such loans.
Their offerings extend well beyond the conventional, with down payment options as low as 1%, 3%, and 5%, and even no down payment options for VA and USDA loans. They can assist with Non-Qualified Mortgages (non-QM) loans, perfect for situations that don’t fit the typical Fannie Mae or Freddie Mac criteria—like business owners looking to purchase property through their LLC. While these non-QM loans might come with prepayment penalties and slightly higher rates due to their increased risk, they represent a segment of loan products not commonly available through traditional banking channels.
WhirLocal had the opportunity to sit down with Arlene and Michael to learn about their backgrounds and what led them to start 38 Mortgage.
Q&A with Arlene and Michael Serrano, Founders of 38 Mortgage
WL: Tell us a little bit about your family.
Arlene: Mike and I got married in 2009, and we have two amazing kids—a 16-year-old boy and a 13-year-old girl. Then there’s the furry part of our family: a Golden Doodle and an Airedale named Mac and Sweet Dee, after our favorite characters from “Always Sunny in Philadelphia.” They’re pretty much inseparable and joined our family back in 2016.
Mike and I grew up in military families—mine with a Navy background and his in the Air Force—which means we’ve moved around and embraced various cultures and communities. It’s given us a strong foundation and a love for a big, bustling household.
Michael: We’re lucky to have settled where our families are nearby. It’s been a blessing, especially with the kids growing up. Having that support network, where family gatherings keep growing, has been fantastic. So, in a nutshell, our family is a lively blend of personalities, adventures, and love, always ready to welcome the next adventure or family member with open arms.
WL: What was your career path before starting 38 Mortgage?
Arlene: Before 38 Mortgage, my career started in Ontario, Canada, where I spent about eight years as a claims adjuster. I then joined a law firm as a law clerk, just a step below a paralegal. Feeling the pull of home, I returned to Kansas City to be closer to family. I took a job at Americo Life Insurance Company, working in the law department as the assistant to the compliance director. After about two years, it was time for a change.
That’s when I stumbled upon the mortgage industry, and it was a game changer. I was 27, working in downtown Kansas City, when I decided to join a small mortgage brokerage. Starting with data entry and loan processing, I quickly learned the nuts and bolts of the business, from verifying credit and income to working closely with underwriters. My role expanded from there, taking on tasks in registering and managing the lock desk, constantly adding more and more to my plate.
The real turning point came when the manager I worked for decided to strike out on his own, opening a mortgage brokerage. It was a “Jerry Maguire” moment—“Who’s coming with me?”—and I was all in. We built the brokerage from the ground up with him and two other owners. I was instrumental in setting up various departments, starting with processing and expanding into closing, lock desk compliance, and, ultimately, licensing and compliance. I spent five or six years there before starting 38 Mortgage.
WL: What brought you from Kansas City to Cary?
Arlene: After accumulating over 16 years of experience, covering everything from processing and closing to secondary markets and compliance—eventually becoming a compliance director—Mike and I hit a point where we felt we’d reached a ceiling. It was time for a new challenge, time to start our own thing. We wanted to create a space that reflected our combined expertise and aspirations.
So, the decision to move wasn’t just about changing locations; it was about finding the right place to start our mortgage brokerage. Cary offers the perfect mix of opportunity and community for our family and business to flourish.
Michael: The move from Kansas City was a giant leap for us, driven by a mix of ambition and a bit of entrepreneurial spirit inherited from both sides of our family. It boiled down to recognizing a moment in our careers where we had amassed enough knowledge and experience to bet on ourselves. We reached a point where we thought, “We’re grown-ups; we’ve got this,” fueled by a belief in our abilities and the insights we’ve gathered over the years.
But before moving to Cary, we dedicated a solid two years to research. North Carolina is celebrated for its business-friendly environment, ranking fourth in the nation for ease of doing business. There are grants and resources available for startups, which is essential. And the trend in industry migration towards North Carolina was hard to ignore like Apple announcing its second-largest facility in the world right here. For us, Cary checked all the boxes in terms of location, business environment, and the chance to be part of a vibrant and expanding community.
WL: Who’s the most interesting person you’ve met in Cary so far?
Arlene: That’s got to be Sudar. Mike had gone out to mail a package one day and came back talking about this incredible guy he met at Postal Express in Cary. His name is Sudar, and Michael says this guy is fabulous. Sudar doesn’t just handle mail and packages; he also runs his own print business, creating business cards, advertisements, and the like. But that’s not all—Sudar also hosts his own podcast, Keep Talking with Ananta.
38 Mortgage is fundamentally a relationship-based company, putting people first in everything we do.
Arlene Serrano
What makes Sudar stand out isn’t just his entrepreneurial spirit; it’s how deeply he’s embedded in the Nepali community here, his welcoming nature, and his kindness. A few months after Mike’s first encounter, he introduced me to Sudar, and we got our business cards printed through him. We even joined him on his podcast, which was a nerve-wracking but fun experience, especially since it was my first time on a podcast.
And then, in early January, when I closed a home loan for a client, it turned out their real estate agent also knew Sudar. It’s incredible how interconnected things are. But really, describing Sudar simply as kind and welcoming doesn’t quite do him justice—he’s genuinely one of those people who you’re just better off for knowing.
Michael: Yeah, I agree; it’s Sudar. He’s just a jack of all trades. I joke with him and tell him he’s the unofficial mayor of Nepal because he represents them on so many levels. And he’s so resourceful; he makes all these connections. If you get the chance to meet him, you’ll understand what we mean. He’s just a great human being.
WL: What drew you to the mortgage industry?
Arlene: It’s the constant buzz of activity and the depth of engagement it offers. I’m someone who thrives on staying busy—my mind is always on the go, and the mortgage world fit that bill perfectly. It’s not just about crunching numbers or ticking boxes; it’s like assembling a complex puzzle. Each piece represents a different aspect of the process, from originating and processing home loans to interacting with clients. And let me tell you, it’s far from dry or mundane.
In the mortgage industry, you’re guiding people who are embarking on one of their most significant life adventures. They’re excited, hopeful, and sometimes scared—especially the first-time homebuyers. And being a part of that emotional journey is what hooked me.
Michael: I took a step back to observe the industry from a broader perspective and noticed an overlooked niche. Our industry is deeply intertwined with real estate, involving numerous professionals in various roles. However, it struck me that despite women’s crucial roles in processing, underwriting, and compliance—essentially ensuring the financial aspects are in order—when it came time for the financial discussions, a male was often the go-to. This observation was puzzling, especially considering that women diligently worked behind the scenes, ensuring everything was accurately handled and presented.
We saw an opportunity to bridge this gap, to create a space where women’s expertise and hard work could be represented at the forefront of the process. We envisioned a brokerage that not only leveraged our collective experience and skills but also challenged the industry norms by highlighting the significant contributions of women. We want 38 Mortgage to be a platform for change and innovation in the industry.
WL: What’s been your proudest moment so far?
Arlene: It’s the positive impacts we’ve been able to make on our clients’ lives. One standout instance was assisting a client from Maryland in purchasing a new home. Despite the builder’s strong desire to have her use their lending services, we offered her a better deal. The process culminated in a compliment from the builder, acknowledging our ease and efficiency to work with, even though they didn’t retain the loan. Navigating the challenges and securing her dream home was incredibly fulfilling.
Another moment that fills me with pride involved helping a member of the Nepali community achieve his dream of home ownership. Despite his concerns about a low credit score, we developed a credit improvement plan that boosted his score by 55 points, resulting in a significantly lower interest rate and reducing the amount of cash he needed at closing. He’s one of the happiest clients I’ve ever seen at closing. Witnessing his joy was unforgettable.
Through the process, we got to know his real estate agent, Jit Man Basnet, who is also a member of the Nepali community. He went above and beyond to support his client throughout the process, and we’re excited to have him in our network.
These instances underscore what we do at 38 Mortgage—transforming dreams into reality through dedication, personalized strategies, and genuine care for our client’s needs.
38 Mortgage: Helping Clients Realize Their Dreams
38 Mortgage stands out in the crowded landscape of home financing not just through its comprehensive range of mortgage solutions but, more importantly, through its people-first philosophy. Under the leadership of Arlene Serrano, 38 Mortgage transcends traditional lending practices by prioritizing relationships, education, and personalized service. Their commitment to attending every closing reflects a dedication to ensuring clients feel supported and informed at every step of their home-buying journey.
By fostering genuine connections within their community and offering innovative lending solutions, 38 Mortgage redefines what it means to be a mortgage broker in today’s market. As they continue to build on their foundation of trust, expertise, and unmatched client care, 38 Mortgage is not just facilitating loans; they’re creating lasting impacts on the lives of homebuyers and strengthening the fabric of the community they serve.
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