Mortgage Colorado Spring Tip: Ask These Seven Questions Before Using a Colorado Home Loan Broker
ByToday’s Colorado Mortgage Springs Tip is a summary of what you should ask when selecting your Colorado Home Loan Broker. Start by checking the Colorado DORA site to make sure that he/she is licensed. These questions will help ensure that your next Colorado Springs home loan is a “Good” one.
Seven Must Ask Questions - Mortgage Colorado Springs Broker
What is your rate? It doesn’t matter what the loan program you ask about, but what the response is. If the Mortgage Colorado Springs Broker gives you a rate without asking any questions, just thank him and hang up. You want a “Professional” Colorado Home Loan Broker, not “An Order Taker”.
Do You Own Your Home? This next question is if the Mortgage Colorado Springs Broker asked you a lot of questions to properly determine what your situation is and what your Colorado Springs home loan goals are. You want someone who has been through and understands the process.
How Long Have You Been Doing Colorado Springs Mortgages? You want someone who has at least five years of experience to do your Colorado home loan.
What Colorado Springs Home Loans Do You Offer and What Is Your Niche? As Brokers, we usually have the same programs available with the exception of Government loans i.e. FHA/VA. The reason for that is you have to get approved to offer these programs and some Colorado Springs mortgage companies won’t spend the time and money to get approved. If they answer that they can do ALL loans and don’t have a niche, this is a Red Flag. You want a Specialist.
Why Should I Get My Colorado Springs Mortgage or Colorado Home Loan From You? You are looking for details of exactly how he operates and not just he will provide great service and/or you will get you the lowest rate. Don’t fall for “BS”.
How Do You Determine When to Lock My Colorado Springs Mortgage or Colorado Home Loan? Unless he gives you specific names of services that he uses, don’t trust or use him. You should hear names like Mortgage Coach RATEWatch, Rate Alert, Mortgage Market Guide, or RateLink. It’s doesn’t matter which service he uses, but that he is using at least one. You want to protect yourself from the big rate swings and get a good rate.
What Colorado Springs Mortgage or Colorado Home Loan Do You Recommend that I Get? If you get only one recommendation, don’t use him. You should get several options to choose from so you can achieve your financial goals and get the “Right” Colorado Springs Mortgage or Colorado Home Loan.
The next Colorado Springs Mortgage Tip will address the new HUD “Shopping for Your Home Loan” booklet that is required to be given to you by your Mortgage Colorado Springs Broker prior to getting your Colorado Springs mortgage or Colorado home loan.