WHY HAVING A GREAT MORTGAGE PROFESSIONAL MATTERS

WHY HAVING A GREAT MORTGAGE PROFESSIONAL MATTERS

I can help you find the house.

I can help you understand the market.

I can help you negotiate.

I can help you navigate the transaction.

But there is one person on your team who plays a completely different—and extremely important—role:

Your mortgage professional.

And I don’t mean someone who simply sends you a preapproval letter.

You Want Someone Who Actually Knows Their Stuff

Mortgage financing can get complicated.

There are different loan programs, down payment options, credit considerations, debt-to-income requirements, mortgage insurance, closing costs and financing structures.

Sometimes a buyer thinks:

“I can’t afford that house.”

And the problem isn’t necessarily the price of the house.

It may be that they haven’t talked with the right lender about the financing options available to them.

That’s why I encourage buyers to work with a mortgage professional who will actually take the time to understand their situation.

Ask Questions

A good mortgage professional should be willing to explain:

  • What you qualify for
  • What you can comfortably afford
  • Different loan options
  • Different down payment options
  • Mortgage insurance
  • Interest rates
  • Closing costs
  • Estimated monthly payment
  • Cash needed to close
  • What could change your approval
  • What you should avoid doing before closing

And if you don’t understand something?

Ask again.

You should never feel embarrassed because you don’t understand mortgage terminology.

Don’t Just Compare the Interest Rate

A mortgage is about more than the rate.

When comparing loans, look at the overall loan terms and costs—not just the number someone quotes you over the phone.

The CFPB recommends shopping around and comparing multiple loan offers. Consumer Financial Protection Bureau: Shopping for a Mortgage

And Please Don’t Disappear After Preapproval

Your financial situation still matters after you’re preapproved.

Don’t make major financial changes without talking to your lender first.

Don’t assume that because you were approved for a certain amount, nothing can change.

And especially once you’re under contract, communicate with your lender.

Your loan still has to make it through the underwriting and closing process.

My Advice?

Find a mortgage professional who:

Answers your questions.

Explains things in plain English.

Knows multiple financing options.

Communicates.

Doesn’t disappear.

And tells you the truth—even when the answer isn’t what you hoped to hear.

That’s the kind of person I want on my buyer’s team.

Have a Question?

Buying a home comes with a lot of questions. You don’t have to figure everything out on your own.

Have a question about something you read here? Want to talk through your situation? Or just not sure what your next step should be?

I’m happy to help.

Schedule a Time to Talk With Karyn

No pressure. No obligation. Just straight answers.

Prefer to just send me a question?