Delving further into the mind of the mortgage shopaholic, we explore the one thing the shopaholic can’t resist … the bargain. What is the bargain? Most would think the bargain is the lowest rate. Some skilled shoppers would think the bargain is the lowest rate plus low closing costs! Getting past rate for most borrowers is a difficult task. That is why I’m not asking you to take rate completely out of the equation. I just want you to add a few factors into the equation.
Rate only equals bargain when the mortgage program, loan structure, and closing costs are factored into the equation. Most mortgage rates are set by the market and not the lenders. Consequently the mortgage program, the loan structure, and your closings costs become the bigger factors when searching for ‘The Bargain’. Maybe an even bigger factor is the person that you are trusting with one of your biggest financial decisions of your life, your Mortgage Professional.
When it comes to mortgage shopping, the true equation is right in front of you! Instead of shopping for the lowest rate, try shopping for expertise. As we all know by now, the lowest rate does not equal the best bargain. Highly skilled Mortgage Professionals who present mortgage programs that meet your personal and financial goals and that are structured to accommodate your ever-changing lifestyle equals bargain.
No more early morning online rate shopping. Stop calling random lenders to ask the silly question, “What are your rates?” Instead, get some referrals from people you trust that have recently went through the process of obtaining a loan. Maybe do a little online research of your friendly neighborhood Mortgage Pro. Hey, you could even read a few blogs along the way. How do you determine if you are talking to a “True Bargain” Mortgage Professional? In the next post, we will give you a few probing questions to ask to help you get started………………So until Friday, keep shopping!
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Related posts:
- Mortgage Shopaholic Part I: Shop It ‘Til You Drop It…The Rate that Is
- Mortgage Shopping Part III: How to Find a San Mateo Mortgage Professional
- Part I: The 5 Secrets of Being a Skilled Mortgage Shopper
- Part I: Four Questions to Ask Your Bay Area Mortgage Professional
- Part II: The 5 Secrets of Being a Skilled Mortgage Shopper
