Determine Your Financial Comfort Level!
One of the most important steps to start with when you decide it's time to purchase a home is to see where you stand in regards to your financial ability to own a home.
When you're ready to start looking at properties, don't start driving by homes or go online.
You first need to sit down with an experienced mortgage professional, who has your best interest at heart. How can you tell if they're really looking out for you?
Look for someone who calls themselves a mortgage consultant vs. a loan officer. A person who titles them self as a mortgage consultant is more likely to take a fiduciary approach and serve your financing needs - looking out for you.
If a loan officer just wants to take your information over the phone and never plans to meet with you in person, then hang up the phone.
If a loan officer answers your phone call and starts quoting you interest rates, then it's probably a 'bait & switch'. They can't possibly know what interest rate you qualify for without knowing your personal information. Hang up the phone!
One way is ask family and friends, who have purchased recently, would they recommend their mortgage consultant.
Another way is to ask your experienced buyer's agent, who do they recommend. Many times an agent has worked with a few mortgage professionals over the years and knows how they operate, knows how they handle problems that may arise, knows that they are held to a higher standard when being recommended, etc.
An experienced mortgage consultant will ask you a series of questions prior to meeting in person. Then they will put together a Personalized Mortgage Plan, which should consist of at least 3 different mortgage programs that are aligned with what you're trying to accomplish. They should then review the mortgage products with you, answer your questions and help you by recommending which mortgage product best fits your situation.
When you're ready to start looking at properties, don't start driving by homes or go online.
You first need to sit down with an experienced mortgage professional, who has your best interest at heart. How can you tell if they're really looking out for you?
Look for someone who calls themselves a mortgage consultant vs. a loan officer. A person who titles them self as a mortgage consultant is more likely to take a fiduciary approach and serve your financing needs - looking out for you.
If a loan officer just wants to take your information over the phone and never plans to meet with you in person, then hang up the phone.
If a loan officer answers your phone call and starts quoting you interest rates, then it's probably a 'bait & switch'. They can't possibly know what interest rate you qualify for without knowing your personal information. Hang up the phone!
One way is ask family and friends, who have purchased recently, would they recommend their mortgage consultant.
Another way is to ask your experienced buyer's agent, who do they recommend. Many times an agent has worked with a few mortgage professionals over the years and knows how they operate, knows how they handle problems that may arise, knows that they are held to a higher standard when being recommended, etc.
An experienced mortgage consultant will ask you a series of questions prior to meeting in person. Then they will put together a Personalized Mortgage Plan, which should consist of at least 3 different mortgage programs that are aligned with what you're trying to accomplish. They should then review the mortgage products with you, answer your questions and help you by recommending which mortgage product best fits your situation.
One person I've recommended since 2003 is Rick Pilger, a mortgage consultant with Union National Mortgage. You can reach him at (513) 770-6999, cell: (513) 600-9003 or e-mail: rpilger@unmco.com.
At your service,
Dan
What questions do you have about this tip or any other topic?
I'll gladly answer your questions at: dan@danweis.com.
Tell a friend about my next Free Home & Condo Buyer Class!
I'm available to help you find your dream home!
Contact me for a Free Consultation: (513) 615-1890 or dan@danweis.com
Tell a friend about my next Free Home & Condo Buyer Class!
I'm available to help you find your dream home!
Contact me for a Free Consultation: (513) 615-1890 or dan@danweis.com
posted by Dan Weis at
2:41 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home