The traditional approach to choosing a mortgage advisor can be extremely dangerous and cost you tens of thousands of dollars over the life of a loan. A mortgage is no longer just a means to allow you to own a home.
A mortgage is a tool that will either help add to your net worth or become a financial drain.
The foundation of a mortgage advising relationship should be trust coupled with advice. Although price is important, the lowest rate with the wrong mortgage strategy will cost you much more than a higher rate on a mortgage that best fits your individual circumstance. The ideal situation is to work with a Mortgage Advisor who is able to consider your overall financial profile and create a loan strategy that will move you closer to achieving your goals and objectives.
Many people do not realize that mortgage rates are continually changing, minute by minute. In the time it takes to shop interest rates, the rates provided by prior lenders may no longer be available. If you work with a reputable Mortgage Advisor that you trust and who has a system for monitoring the markets to know when it is best to lock in your rate, chances are you will receive the great rate you are looking for.
Internet Lenders and Banks
Many banks and internet mortgage companies hire order takers to walk you through the mortgage process. A Professional Mortgage Advisor does not cost any more than an order taker and will provide insight and mortgage management that is not offered by transactional institutions.
Very few mortgage lenders have a system to manage clients and their mortgages after closing. You should only work with mortgage professionals who have a system that continually ensures you are in the proper mortgage based on the market and your evolving financial circumstances, as well as adds value to you beyond just your mortgage needs.
As you consider your options of lenders to help you with your next home, I invite you to call me for a no-fee or obligation consultation. My goal is to help you make informed decisions and to create a plan that is in-line with our overall goal of creating financial peace in the families we serve. To arrange a consultation, call my office at 801-501-7950 or e-mail me at firstname.lastname@example.org.