mortgage simple definition: More than a rate quote Mortgage Mondays #70

More than a rate quote Mortgage Mondays #70

More than a rate quote Mortgage Mondays #70. Mortgage Purchase Quotes Raleigh

More than a rate quote Mortgage Mondays #70 video duration 4 Minute(s) 11 Second(s), published by Matt the Mortgage Guy on 13 06 2016 - 20:59:16.

https://www.mattthemortgageguy.com 916-529-7600 Matt, the mortgage guy
Mortgage Mondays
Episode 70
Where I'm talking more than just a rate quote
Matt Mortgage,Mortgages,Mortgage Loans,Refinancing,Home Mortgage Lenders,Current Mortgage Rates,Home Mortgage,Mortgage Company,Online Mortgage .

This video and its contents are not intended for residents or home owners in the states of MA, NY or WA
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https://www.mattthemortgageguy.com 916-529-7600 Matt, the mortgage guy. Mortgage Mondays. Episode 70. Where I’m talking more than just a rate quote.

Matt, the mortgage guy. Mortgage Mondays. Episode 70.
I’m talking about more than just a rate quote and where I’m going with it is, as a mortgage professional, I’m providing much more than just a rate quote and although that’s the case, more often I’m getting people that call, they have a 2 minute conversation, they want to know what’s your rate, what are your fees. Things like that, that while important are definitely not the most important.

Let me explain. It’s similar to investing and working with an investment professional. This person is putting together a personalised plan based on your needs and the same holds true for a mortgage. It’s a big transaction, it’s an important part of the whole financial picture and what I want to do as a mortgage professional is analyse your specific scenario and help advice you on what makes more sense for you long term and short term.

So, good example, it might be a case where you’re buying a home, but you only plan to stay 3 or 4 years and then relocating or you know you’re not going to be in this mortgage for more than a few years. It makes no sense to get the best possible terms on that mortgage, to say $38 a month when it’s going to cost you $6000 more or close.

Those 150 months to break even and you know you’re only going to be in the mortgage for 3 to 4 years, doesn’t make sense. So we structure it in a way to safe you the money now, because $38 a month does not matter, since there’s no chance you’re going to be in this thing for 14 years or whatever it takes to break even. Little things like that, where you as a consumer, while you want to shop for best terms and things of that nature, you also got to understand that talking to an experienced mortgage professional, who can listen to your scenario and give you personalised advice is very important.

You can talk to somebody at a broker in Southern California, that's fast talking smooth salesman, who quotes you a fantastic rate and while that 1/8% of a percentage point may sound like a great deal, there’s other factures that go into it. Like take 45 days to close, might not close at all, might be that he’s putting you into a mortgage that benefits him commission wise.

But you know over the long term you spend $40 000 more, because it wasn’t the right type of mortgage for you and refinance out of it and things of that nature. So, the bottom line is, what’s important to go out there and shop as a consumer for the best terms, its equally or more important to shop for the right mortgage professional that has your best interest in mind.

It’s always, always a good idea to get a feel for who can best serve you, because if it was just rates, fees, and stuff like that, there would be no need for mortgage advisors. You just get online, click online, click a few buttons, here’s what I’m going to go with, they’re offering this, click and go, but there's mortgage professionals, there’s investment professionals, there’s real-estate professionals, because the value they provide by being able to advise is what you’re paying for.

Any questions at all, feel free to reach out, Matt, the mortgage guy, mortgage Monday.

This episode I talk about the importance of selecting a mortgage professional that can advise you. Getting the best mortgage isn't about selecting the lowest rate.

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