It’s true. We talk about how your mortgage specialist or mortgage broker has all the answers that you need … and that’s absolutely true. But we also believe that an informed client is the best possible client, and the more you know, the smoother your mortgage process will go, and the better mortgage rate you’ll be able to get!
- The first thing you need to do is organize your finances. Period. We’ve written a lot in this space about obtaining and maintaining a good credit score, but there are hidden problems that could still affect you when you apply for a mortgage. Did you know, for example, that if your credit card balance is over 30% of your allowable balance, it will count against you—and lower your score, even though you’ve always make your payments on time? Take care of this before you go to see your mortgage specialist and you’ll be in much better shape.
- The second thing you should do is to use a mortgage broker or specialist (as opposed to a loan officer at a bank or other financial institution). Why? Let’s say that you go into a bank with all your financial and other information to hand—your employment history, your tax schedules, everything that you’ve read is important to bring with you. You sit down at a desk with a cheerful encouraging person who goes over it all with you and helps you fill out the interminable forms and cheerfully sends you off to wait for an answer. Do you know what happens once you leave? That cheerful smiling person has absolutely nothing to do with the actual processing of your mortgage loan application. He or she will simply pass it off to someone else who will make the decision. You will have applied for whatever that financial institution offers—a one-size-fits-all mortgage. If you work with a mortgage specialist, on the other hand, the person you meet will be with you through the whole process. There will be a lot of different mortgage products available, and he or she will be able to take the time to really get to know you and your situation and your needs before recommending any of them. This is one of the big reasons for our tagline: Banks Say No, We Say Yes. Because we really can help you find opportunities that the banks cannot.
Again, a well-informed and educated mortgage client is our best possible mortgage client. We don’t hide anything from you: the mortgage application process and mortgage approval process are completely transparent when you work with us. Want to learn more? Stop by and see us, email us, give us a call. We’re ready to help you find the perfect Georgia mortgage or Florida mortgage available to you!
By Steve Avrus
