Mortgage Brokers’ Secrets might be the title of this blog, as such, it stands on its own. However, it is also Part II of our previous blog, Mortgage Brokers High Touch vs High Tech. Plus we also take this opportunity to wish you a happy, safe and healthy July 4 Celebration.
About Those Secrets of Mortgage Brokers
The secrets that mortgage Brokers bring to home buying are the procedures that will help you cross the bridge. Thus you will change from home renter to homeowner.
The new homeowner has often found the purchase of a lifetime. Palm State Mortgage Brokers knows how to balance hands-on expertise with the most effective digital tools. Clearly, successful Mortgage Brokers understand the online convenience tools and the brokers must do list.
Mortgage Brokers Know How to Bridge the Digital Divide
We continue from the last blog which highlights the need for high tech tools. But that’s not ALL. The tools must be in combo with the human touch Broker for good reasons. According to Ellie Mae’s Borrower Insights 2019 survey, “We hear a lot these days about the benefits of the “digital mortgage.” The term is widely overused. Yet, its promoters have largely under-delivered on its true promise.
A Quick Review from Part I
Previously, we reported that the survey findings showed a need for a hands-on approach with balanced digital use. “ Borrowers continue to show a strong desire for more options…” And we agreed that most buyers seem especially interested in “interaction and communication with their lender…” This basically means we believe you’d rather establish your home mortgage with an identifiable person than a digital program.
Before proceeding, we suggest you review the previous Part I article before continuing with this one.
The Palm State Mortgage Mortgage Broker: Dream House Advocate, Counselor, Negotiator
# 1 of the Mortgage Brokers Secrets – We Know Where to Start
Today’s Mortgage Broker’s top secret is knowing the capabilities and pitfalls of online systems. Palm State Mortgage Company will start you on the right path to attaining the perfect mortgage for your fiscal situation.
We will guide you through the whole mortgage process from your application to your closing.
# 2 of the Mortgage Brokers Secrets – Hard Work is King
Mortgage Brokers are worth it. That’s the bottom line according to a recent Deloitte Access Economics report. “Mortgage brokers make mortgage markets work better.”
It’s clear that the hard work gets done by these professionals. What’s better? Mortgage Brokers don’t add another cost to the buyer. That’s right. “As housing affordability continues to challenge many home buyers, brokers perform a vital service at no cost to the borrower.”
So, What do your mortgage brokers do for mortgage seekers? They dig in and ask all the right questions:
- First, determine the client’s mortgage options (VA, FHA, etc.)
- Then, they evaluate pitfalls or problems that the prospective homeowner may encounter.
- Keep a timeline on the mortgage processing steps.
- Compile the loan file.
- Streamline the closing documents.
- And finally, coordinate the inspectors, closing agents and underwriters and more.
# 3 of A Mortgage Brokers Secrets – Palm State Learns Your Story
Every buyer has their own criteria for the new home. Some of these include income limitations, home size, and dream kitchens. Likewise, every buyer brings their fiscal history with them. Make sure to let your Mortgage Broker know about the skeletons in your financial closet.
It’s wise to apprise us of any credit issues that could affect your mortgage approval. This will allow us to connect you with optimal mortgage options.
Little details can be important. For example, you might want to keep a recreational vehicle in your driveway. In that case, This will partly determine the size of the yard that you require. Likewise, we will steer you clear of homeowners associations that do not permit RVs in open sight.
# 4 of A Mortgage Brokers Secrets: We Offer You Loan Choices
This is where a Mortgage Broker learns the ropes and finds the best packages to meet your needs. Loans are confusing. There are so many options to consider, here’s a sample of all the products your broker understands. At Palm State, we promise to take you through all your best options:
- First, we have a choice of 3 to 30 year fixed or variable rate loans.
- Then, there are Traditional, Construction, Balloon, and Reverse Mortgages.
- Buyer Programs may include First time home buyers, FHA, VA, and Conventional.
When you hire us, you’ve hired an expert in loan terms, qualifications, bank specifics, and down payments.
# 5 of a Mortgage Brokers Secrets – Buyer-Centered Counseling
It’s no joke that it’s an emotional time. You are making one of the biggest purchases of your lifetime. There is always a flood of items that could go wrong. So, it’s no wonder buyers often let their imagination envision even bigger problems.
At Palm State Mortgage, we provide “Buyer Centered Counseling.” That means that we take the time to explain possible problems and ways to safeguard your choices. In effect, we can usually ease your fears and anxieties by explaining how you are protected.
As an example, trying to understand what the different mortgage rates and points mean. It very can be confusing and frustrating to a first-time homebuyer. Your Mortgage Broker has the experience to ease your fears. He or she will advise you and help you select the perfect fit for your personal and financial story.
#6 of the Mortgage Brokers Secrets- We Handle Last Minute Loan Land Mines
- Your Mortgage Broker will be the angel in disguise. Your broker will deal with the parties involved in the closing. He or she will act as your shield. And the result will be to defend the timeline of your deal. We will watch out for the numerous requests for paperwork. We’ll handle requests for:
- funding proof,
- closing documents,
- and inspection details
#7 of the Mortgage Brokers Secrets – Palm State Delivers on Promises
As we reported in our last blog, promises kept is not the result for many online companies. “Your Mortgage Broker’s proficiency lets you complete the financing and puts your one of a kind dream home within 30 days. Many online companies promise that time period but fail to deliver. On the one hand, did you know that the online mortgage process often stretches to 60 days or more? This is opposite to the massive advertising campaigns that make the process sound fast and simple.”
Reaching out for the human touch of a licensed Mortgage Broker offers you a uniquely successful and smooth home buying experience. At Palm State Mortgage, We are here to help everyone in your home buying deal keep their promises. We are the one person that holds everyone in your deal accountable.
Palm State Wishes You a Happy July 4, 2019.
As is our custom here in the Palm State Blog, we offer you special July 4 messages for Your Independence Day Reflection.
First, President Harry S. Truman praised our bravery as a nation. He stated,
“America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand.”
Likewise, the former President Bill Clinton complimented American strength and ingenuity. He said,
“There is nothing wrong with America that cannot be cured by what is right with America.
Last, of our quotes for your July 4 contemplations, we present the words of President Ronald Reagan. He summed us the American spirit well with these words:
“Freedom is never more than one generation away from extinction.
We didn’t pass it to our children in the bloodstream.
It must be fought for, protected, and handed on for them to do the same.
Or one day we will spend our sunset years telling our children and our children’s children
what it was once like in the United States where men were free.”