So, you’ve decided to buy a house?
GREAT DECISION, especially now since rates are super low and you can walk into plenty properties with some decent equity.
Ok, step 1 complete.
Next step, picking the right lender.
I’ve written several articles on this previously, but I will summarize countless hours of explanation into ONE sentence:
YOU WILL CHOOSE WHOEVER YOU FEEL MOST COMFORTABLE WITH.
It’s not rocket science. To some consumers, rates and fees are absolutely everything, and that is OK.
To others, discussing their loan parameters and figuring out WHY they should go on a 15 year mortgage vs. a 30 year makes more sense- a financial plan if you will. Ask most people why they went on the loan program that they did, and see what their response is.
Everyone is different. Remember, you are the one hiring the loan officer to do your loan. The questions that you need to ask yourself are:
1. “Why am I hiring this person?”
2. “What has he/she done for me so far?”
3. “What do you expect from him/her, and vice versa?”
4. “Has the loan officer asked what’s important to ME during the loan?”
Tommy’s 2 Cents:
Would you pay a CPA double what another CPA would charge if they saved you an additional $5,000 off your taxes?
Would you have a fresh-out-of-med school perform heart surgery on you to save a few thousand on the costs?
Would you hire ME or Johnny Cochran to represent you in a criminal trial?
Get the point?
In any profession, what you ultimately pay more for is knowledge.