Mortgages Are About More Than Just The Money
Every day I talk to folks interested in getting information about purchasing a home or refinancing homes in Maryland. Many of them are frustrated because they are not getting called back, they have been given misinformation, or they have been treated poorly. Most of them have questions, some have more than others. They want to know about the process, the rules, what paperwork is needed, how much they can qualify for, how much they can save each month.
Many lenders only want to know three things...
Do you have a job?
Do you have good credit?
Do you have assets?
This information is very important for qualification purposes, but not necessarily about determining the RIGHT loan. For me, I do my best to look at the whole person, their goals, their plans, their family, their life. Since this is the way I do business, because I care, I learn a lot about my clients and many truly become friends.
When talking to a couple adamant on getting a 10 year loan, I learn that they are living almost paycheck to paycheck, robbing Peter to pay Paul. They are not struggling to pay their bills because they are shop-a-holics, or because they are irresponsible. They are struggling because they have 2 children in private high schools and 2 more in college, all paid out of pocket, no loans. Once the kids are out of school, this couple will feel like billionaires! We were able to help them to structure their loan so that they have breathing room now and can chunk down on the payments later, when the expenses are less and even pay off their mortgage in less than 10 years if they choose.
I talked to a woman who has an FHA mortgage over 5.5%. Although we can help her to lower her interest rate on her mortgage, it was the rest of her credit that we talked more about. She and her husband have tremendous debt. They have maxed out almost all of their credit cards (a lot of credit cards!), most of the credit cards are at an interest rate that is 20% or higher. I am working with them on a budget to help them to stop their out of control spending. The mortgage rate is the very least of their problems, they need to STOP spending!
I help people going through a separation or divorce to understand their options with regard to the house.
I help people who are thinking about relocating from another neighborhood, another state, another country.
I listen to the stories. Some are happy, some are not.
I share the lives of many with whom I work...marriages, divorces, aging parents, lay offs, promotions and job changes (I have been known to forward resumes!), illness, the cancer diagnosis and the subsequent treatment, the death of a spouse, a child or a family pet, military deployments and PTSD, births and birthdays...LIFE!
I work with folks to find:
the solution to their problem,
the referral to the right resource,
the answer to their question.
WHY DO I CARE ABOUT YOUR LIFE?
Because mortgages aren't just about the money!