Colorado Springs Mortgage: Two Questions to Ask Your Broker
ByIn today’s Colorado Springs Mortgage Tip, I would like to suggest that you ask the below questions of your Colorado Mortgage Broker. They will help you determine whether you should even consider getting your mortgage Colorado Springs or Colorado home loan from him/her.
In this post, I’m only going to address the first two questions that you should ask. They will help you quickly eliminate the non-professional loan originator.
Questions to Ask for Your Next Colorado Springs Mortgage
What is your rate for a 30 year fixed conventional loan? You can change the question for any loan program, i.e. FHA 30 Year fixed, or a 3 Year ARM, etc. The loan program doesn’t matter, but what the response does. If the Broker quotes you a rate without asking any questions, you do not want to do business with this person. A real mortgage professional will not give a rate without first knowing more about you/the transaction such as whether you are a W-2 employee or Self-Employed, your estimated credit score, approximate home value, loan amount, etc. This would be the same thing as going into the doctor’s office and the physician prescribing you medications without knowing anything about you and your medical history. That is “Malpractice!. This physician would be negligent. The results could be fatal or a have long-lasting affect on your life and in the mortgage industry, it is no different. You could become financially bankrupt on your next Colorado Springs mortgage or Colorado home loan if you don’t work with a true mortgage professional.
If the Mortgage Broker asked you a lot of questions and properly determined what your situation is and what your mortgage Colorado Springs or Colorado home loan goals are, ask this next question.
Do You Own Your Home? Although this is a simple question, it can be very revealing. You will find out two things. First, no one asks this question so it will take the Mortgage Broker by surprise. You want to see how the broker handles surprises. Are they defensive, do they ask you why you’re asking, do get excuses for not being a homeowner, or do they just answer with a Yes or No? You will learn how they handle surprises and stress. The second reason is you want to work with someone who has actually gone through the home-buying process. Look at it this way. It is like knowing the difference between being a mother who has gone through the pain of child birth versus someone who just read about it. There’s a big difference! Don’t you want to protect your financial well-being by getting the “Right” mortgage Colorado Springs or Colorado home loan advice.
The next Colorado Springs Mortgage Tip will address the next questions you should ask Colorado Mortgage Brokers when you shop for your next mortgage Colorado Springs or Colorado home loan.
I had to refresh the page 2 times to view this page for some reason, however, the information on here was worth the wait. I loved that it is also really easy to read for the eyes.
Aw, this was a really quality post. In theory I’d like to write like this too – taking time and real effort to make a good article… but what can I say… I procrastinate alot and never seem to get something done.