Buyers Have Hard Decisions

Use a Qualified Mortgage Banker to Ensure the Best Results

Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when starting this venture. There are many loan programs available, both Conventional and Government, and it is important to find the one that best fits your personal long-term goals.

First and foremost, you must have a trustworthy Mortgage Banker in your corner that is willing to take the time to know and understand what your long-term goals are. Communication is the key factor here. Be upfront and honest with your information. If not, the truth will come out eventually and you may not be able to qualify for the loan program that you want.

Curious prospective home buyers sometimes turn to Internet-based services just to see what current interest rates are. But a faceless web site will not care about your future financial well being, or guide you through the various stages of the loan process. When shopping for a home loan, be wary of web-based services that offer programs to reel prospects in with attractive rates that are based upon unrealistic time frames.

If a Broker or Lender is offering a terrific rate based on a 10-day lock-in period, it is unlikely that you would actually be able to find your dream home, get through the negotiation process and win approval from a lender within such a short period of time. This is called short-pricing, and when it comes time to close the transaction, the rate that was originally offered is simply no longer available. Which means you as the Buyer would potentially be bulldozed into a loan program with a higher interest rate. As a fully qualified Mortgage Banker whose business is based upon referrals, I would never use unscrupulous tactics such as this to get new customers in the door!

Once you are ready to begin the Mortgage Loan Process, lay your goals out on the table because it will have a tremendous impact on choosing a loan program that meets your specific needs. One of the most important factors to consider is how long you wish to borrow the money for. For example, if you know you will only be in the home for five years, it would not make sense to opt for a 30-year loan program or pay additional discount points up front to secure a lower interest rate. You would not be in the home long enough to benefit from such action.

I will be able to narrow down a selection of programs based on the information that you have provided, and present you with an easy-to-read proposal that clearly defines viable options for your interest rate and amortization schedule, monthly payment and any potential savings you may realize by paying points up front. Also, if you would like, I will review this information with your tax consultant or financial planner so they may offer additional feedback on your behalf.

Home ownership imparts a rewarding vehicle for building wealth and a strong financial future. As your Mortgage Banker, I will be there throughout the entire process including when your loan closes. Plus, I will also provide you with ongoing service to assist you in managing your largest asset over time.

Please give me a call direct at 763-557-5608 to set up a convenient time to meet to go over your current needs. Referrals to friends, family, neighbors and business associates are always welcome!
Regards,
Steven