It’s not hard to find a Mortgage Consultant, Loan Originator, Mortgage Advisor or whatever we call ourselves these days. In San Mateo County, you can find one of these mortgage people on every corner, and, if you take a quick glance around, probably right behind you.
With so many Mortgage Consultants and/or Loan Originators and/or Mortgage Advisors vying for your business, how do you know who you can turn over one of your largest financial decisions? First of all, you are not shopping for a Mortgage Consultant, Loan Originator or Mortgage Advisor. You are shopping for a Mortgage Professional, which begs the question, what is a Mortgage Professional and how do I find one?
A Mortgage Professional is somebody that will take the time to understand your financial needs and goals. They will not just quote rates over the phone because they sound pretty or get into a bidding war after you tell them the last mortgage person they talked to said they could get a 0.25% lower rate. A Mortgage Professional stays on top of the market so they can advise you properly. A Mortgage Professional should be just that, Professional!
How do you find one? You find one by taking the time to properly interview your Mortgage Professional. I know once you pick up the phone, you’re going to have a burning desire to ask, what are your rates? Don’t! Even though the mortgage person at the other end is already reaching for the rate sheet because they know the question is coming, don’t ask the question. Instead start the interview process.
The first step of the interview process is to see how the Mortgage Professional interviews you. See if they ask you more questions than, how much do you want to borrow, how is your credit and how much do you make? Although these financial and credit related questions are important, there should also be additional questions that explore your goals and what you are trying to accomplish with your new loan. Even if you do not get these questions in the first interview, it doesn’t mean that you are not talking to a true mortgage professional. There are four questions YOU can ask that will make things a little more cut and dry. I will reveal those four questions in my next post. Until then………..keep interviewing!
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Related posts:
- Mortgage Shopaholic Part II: What is the True Bargain When it Comes to Bay Area Mortgage Shopping?
- Part II: Four Questions to Ask Your Bay Area Mortgage Professional
- Part I: Four Questions to Ask Your Bay Area Mortgage Professional
- Shop for a San Mateo Mortgage Advisor First to Get the Best Interest Rate
- Part I: The 5 Secrets of Being a Skilled Mortgage Shopper
