Finding the Right Mortgage Officer
Anyone who has bought a house will tell you that finding the right REALTOR® and the right mortgage person is absolutely critical. If you talk to a REALTOR®, they will tell you that you should select your real estate agent first; if you talk to a mortgage person they will say you should select your mortgage person first. In reality it doesn’t matter which one you select first as long as you select people who are going to do a good job for you.
There is one factor that is critically important when selecting a mortgage person that I think warrants discussion. If you are like millions of people in this country who may have less than stellar credit, or do not have a gazillion dollars to put down, it is important to have a mortgage person who can guide you in making those decisions.
All too often I have clients who talk to a mortgage person only to be told that they do not qualify for a mortgage without telling them what they need to do to correct the matter. The good news is that there are some mortgage officers who have the computer programs and the desire to provide this information to clients.
I have had clients who thought they needed to have no debt in order to buy a house and have used all their money to pay off credit card debt but then did not have the money for closing costs or down payments.
Before you make that decision I would encourage you to talk to a mortgage person or a REALTOR® who can get you in touch with a mortgage officer who can advise you on what to pay down and what not to pay down. It really does matter.
If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.
As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.