It may seem odd that someone in the mortgage business wants to discuss how to help consumers find the best mortgage lenders. People search for mortgage providers every day without the benefit of professional help. So, I figured why not help people whether they find their way to me or someone else? Below I’ve listed the most important mortgage questions that you need to ask before you apply for a mortgage loan.
Blog Category: shopping
Can a mortgage broker overpromise and underdeliver? I wanted to share a story about a client who used my services for his mortgage when he purchased his home three years ago. On his recent refinance he said he “had to go with the best terms he could find.” It seems his purchase loan was too important to leave to chance, but now he was ready to use almost anyone as long as they appeared to have the best terms. He talked to a lender who was referred to him as “one of the best lenders I have ever seen.”
Have you ever found yourself sneaking a grape or a cherry tomato at the grocery store, before you buy? You just want to get a taste before you buy the whole bunch, right? Maybe that is OK for fruit, but not for service providers. It’s a lesson some people need to learn. Some people need to learn to “shop” and then “decide”, instead of “decide” and then “shop”.
I had clients who applied for a refinance almost 4 months ago. Interest rates dropped for quite a bit of that time period, and it seemed like once a month they were asking me for a better deal than I had originally locked them in at. Getting a better deal is fine, steamrolling everybody in your path to pick up each 1/8% rate drop is another.
Always check with trusted sources. Always check with experienced sources. Always ask a lot of questions. Never assume the person you are talking to has your best interests in mind. And…eat all your vegetables, wear clean underwear, and look both ways before you cross the street. Now you are all set with good advice for life. So what is my point to all this?