Creativity, believe it or not, is a major asset to a mortgage loan agent. There are so many options to homebuyers these days— renovation loans, FHA, grants for first time home buyers, HUD, the list goes on. It’s my job to find a creative solution to financial goals when it comes to buying a house! You don’t necessarily need a big downpayment or a perfect credit score to get into a great home. If you are dealing with challenges like not-so-perfect credit, or being self-employed and proving your income, talking to a mortgage professional, like myself, can really help expand your options. Here are 3 reasons why.
1. DIY Mortgage research sometimes doesn’t paint a full picture. There are tons of rate comparison sites, but that’s only one aspect of a mortgage loan and doesn’t really tell you what’s in the fine print. New mortgage products are available every day and not everything is online. A mortgage professional has dealt with many banks and many loans and knows what’s available. In some cases calling up people they’ve worked with before to see what they can do for a particular situation. Again, creativity comes from a personal touch that you can’t get online.
2. Experience is on the mortgage professional’s side. We understand the market, and we know the lingo. It can be difficult to make an informed decision when you aren’t familiar with some of the terms of the contract. Having a professional on your side puts you in a better position for tough decision-making.
3. All of the Above. Mortgage professionals know the market, we know people in the lending business, we are experienced in product comparisons. The bottom line is that we have ways of getting better deals from lenders than the average consumer. That’s why we’re professionals.
If you walk into a bank with any challenges to lending, they are going to try to protect themselves against risk by charging you higher interest on the loan as well as higher mortgage insurance premiums at the very least. When you talk to me about your mortgage options, finding the best product with the best rates and ultimately saving you money is one of the challenges I really love about my work.