What Is Better Than Shopping for Interest Rates?

By
Mortgage and Lending with C4Life LLC

           I recall when my wife and I were looking for our home.  We heard so many horror stories about how difficult it was to buy a home.  One of the main issues that prevent many people from buying a home is credit.  Well, I am happy to say that my wife and I did not have that hurdle to jump.  We also heard that debt and income were other issues.  I am happy to say that I was debt free and a veteran of 15 years in the armed forces happily receiving my pay check on the 1st and 15th of each month.  Besides finding the perfect home for our season of life, finding the right mortgage for our season of life was the number one priority.

            My wife and I opted for a VA 30 Year Fixed Mortgage with a 6% interest rate.  In my estimation, it was the perfect product and interest rate for our season of life.  You may ask?  Why am I sharing this particular story with you?  I am often asked, what seems to be the most important question that every consumer on the face of the earth wants to know...what are your rates?  My response has and continues to be, "what is important about interest rates?"  I am not trying to avoid the question.  In fact, I am asking this question to discover what season of life a future client may be in.

            Everything works in cycles, particularly our finances. How so, you may ask?  When you are single, your only concern is you.  When you are married, your concern is your spouse.  When you have children, the concern typically becomes your family.  The children enter elementary, junior high, high school, hopefully college, and then you are an empty nester.  You look up and say, we made it.  Okay it may not happen exactly like that...but you get my drift.  As such, the way you think about finances change as you move from one season of life to another.

            My answer to the question is simple...relationship, relationship, relationship.  Why?  Statistically speaking, on average in our American society, people move approximately 7 times.  Accordingly, they will have at least 7 different mortgages excluding refinancing. Do you think it would be beneficial to your financial well being to remain with one person that understands your overall financial goals or several?  Lastly, what is the name of the person that did your last refinance or home purchase mortgage?

            How important are financial relationships to you?  Please email me at fred.hicks@themortgagemakeover.com I would love to hear your story.  Have an awesome August.

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Rainer
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Nicole Kraus
Signature Realty Associates - Dover, FL
Good Point!!!  Thanks for sharing!!!
Aug 07, 2007 02:04 AM #1
Rainer
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Judi Glamb
Coldwell Banker Hearthside - Hellertown, PA
Associate Broker, ABR

Fred - Chris Cater is the name of the mortgage lender that we use personally.  My business partner yesterday told me she was purchasing an investment home and was concerned that our agency would get upset that she wasn't using the in-house lender.  However, her personal lender had worked hard and did what they said could be done on a previous purchase so she is going with them.  As long as the interest rates are within the competative range, I would rather pay a bit higher and have the confidence that we will get to closing and there will be no hidden fees/costs.  As a real estate agent, I've seen too many horror stories to do otherwise. 

All the best....

Aug 07, 2007 02:09 AM #2
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Rainer
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Fred Hicks

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