Denver CO Mortgage Tip: Last 3 Questions to Ask in Selecting Your Colorado Home Loan Broker
ByFor today’s Denver Colorado Mortgage Tip, here are the last three questions to ask your Denver Mortgage Broker. They will help you decide whether you should even consider getting your Denver Mortgage or Colorado home loan from him/her.
Three More Questions – For Your Next Denver CO Mortgage
Why Should I Get My Denver Mortgage or Colorado Home Loan From You? If you get an answer that he/she will provide great service and/or you will get you the lowest rate, I hope that you realize that is all fluff. Most Colorado Home Loan Originators will give you this “General” sales pitch. Don’t fall for it. Ask for specifics on how they are going to do that and then watch them tap dance. If the Denver Colorado Mortgage Broker is worth anything, you should hear things such as: structuring the loan to match your financial goals, setting the expectations for you and him/her such as commitments, availability, regular updates, client retention program, etc. You will be able to tell if they are winging it or not.
How Do You Determine When to Lock My Denver CO Mortgage or Colorado Home Loan? Unless they can immediately give you specific tools that they use, don’t trust or use them. You should hear names like Mortgage Coach RATEWatch, RateAlert, Mortgage Market Guide, or RateLink. These are the primary rate monitoring services. Rates are extremely volatile. They change throughout the day. You need to have what I call, a “Personal Rate Shopper” who monitors the rates for you. I now use three of these services instead of just one so I can properly advise my clients when to lock their Denver Colorado mortgage or Colorado home loan. I recommend you use a Personal Rate Shopper so you don’t get burned by being quoted one rate and then getting a higher one.
What Denver Mortgage or Colorado Home Loan Do You Recommend that I Get? Ask this and sit back for the answer. If you get only one recommendation, that Colorado Home Loan Originator is not really helping you. You should get several options to choose from even if it is an FHA loan. For example, you can save a lot of money when you compare options over time depending on the rate, the terms, the closing costs, and whether it fixed or adjustable. You should see these options so you can make an informed decision. I’ve used special software for over 6 years that allows my clients to easily compare and understand what loan program will be best for them. I guide them through the process so they can make an informed decision. Again, if the Denver Mortgage Originator you are talking to isn’t doing this, you are placing your financial security at risk. Protect your biggest investment by getting professional advice.
The next Denver CO Mortgage Tip will put all these questions together for easy reference when you are interviewing a Denver Mortgage Broker for your next Denver Colorado mortgage or Colorado home loan.