So let me just put this out there…I love Will Ferrell! When you combine Jimmy Fallon and Will Ferrell, HILARIOUS!!! What does that have to do with finding the right mortgage fit for you?? Before we get into that do yourself a favor and watch this…you’re welcome.
Finding your mortgage fit.
So everybody’s talkin’ about Will Ferrell’s tight pants, but does anyone talk about their mortgage? I mean really, anyone?? Finding what mortgage fits your situation is essential to having success in one of the largest purchases you will make in your life. Think about it, people will research what phone they will next choose to purchase or where they will have dinner on Friday night but they will spend very little time researching what mortgage program might best fit their needs. Your home loan is something that will have an impact on your financial life for about the next 30 years so you owe it to yourself to take a moment to consider what your mortgage fit is.
What is the 1st step I should take in finding the right mortgage fit?
You should most definitely find a loan officer that specializes in various programs. This will ensure that they are not going to be a “one trick pony.” As a State of Michigan and Federally Licensed Mortgage Loan Originator I make it a priority to stay current on what programs are available for my clients. There is not one mortgage program that will meet the needs of every buyer.
About 15 years ago, while on vacation in Tennessee, my wife and I decided to go white water rafting. It was an incredible experience, one I would highly recommend you have on your “bucket list.” With us in the raft was a white water rafting expert, they were our guide to make sure we had a fun experience and of course most importantly, that we did not die. It was very clear that our guide knew what they were doing. They knew exactly what to do in the moment, and they would give very clear instruction regarding exactly what they wanted us to do. What was most impressive was not only their knowledge about what to do in the moment but that they knew what was coming around the next bend in the river. Their knowledge of what was coming up ahead caused them to make certain decisions in the present to avoid problems later.
My job as a loan officer is analogous to the job done by my white water rafting guide. I need to know what is around the next bend and guide you through the safest route for your home loan. Knowing what is coming is one of the primary ways I will know what your mortgage fit is.
For information on whitewater rafting in Tennessee check out this blog http://www.smokymountainrafting.com/blog/whitewater-rafting-gatlinburg/why-smoky-mountain-outdoors-has-best-white-water-rafting-in-gatlinburg-tn/
Is it difficult to find my mortgage fit?
Finding your mortgage fit is typically not a difficult process. In fact sometimes it becomes very clear what program will fit your needs in a matter of a few minutes. For instance, if I am talking with a potential buyer and they mention that they are a veteran I might suggest they use their VA benefit by applying for a VA loan. Or if the buyer is looking to put 20% down and has a credit score of over 800 they might want to consider a conventional loan. Another buyer might not have as much money to put down or maybe has had some credit mishaps in the past, they might want to consider an FHA loan. Or I might ask where a buyer is looking to purchase and if they mention an area like Davison Michigan I might suggest they consider a USDA Rural Development Loan. Often times one program will just jump out as the obvious choice, other times a buyer might have multiple options and we must determine what your mortgage fit is based upon what is most important to you.
If you are looking to determine the perfect mortgage fit for you I would love to help. Feel free to contact me to get the ball rolling. To simplify the mortgage process download my free Mobile App