In today’s mortgage market, the big banks and non-complianced mortgage brokers have changed the root formula for transparency. This unfortunately puts the borrower at a great disadvantage, as they don’t have the right information and guidance to make a proper decision. As a community banker, I consult my borrowers on how to make a formulated decision, which will make sense now, as well as in the future.
I like to break the mortgage process into the following phases 3 phases: Pre-approval, approval, and closing.
In the pre-approval phase, the goal is to determine what the borrower can afford and what makes sense on a monthly basis. During this phase, we look at options to improve the position of a borrower to ensure the best interest rates and terms. We also consider options such as VA benefits, FHA, conventional, jumbo, and rehab financing.
As we enter the approval phase, I work closely with the borrower, agents, and attorneys to ensure that the mortgage contingency dates are met, protecting the borrower from a potential loss of earnest money and the property.
Since much effort has gone into the pre-approval and approval phases, the closings go smoothly with little drama. In the last three years, I have closed over 1000 loans. Once a client, always a friend. We are always looking for an opportunity to refinance to a lower mortgage rate, or shorten the term of the mortgage to save even more. We look to position ourselves for the future, which may be an upgrade, second home or investment property. Over my 13 years as a banker, I have provided second to none service to my friends, and have been rewarded with referrals of friends and family, which is the foundation of my business. Honest, transparent advice. Nothing more or less.