| Purchasing a home can and will have its challenges. | | | | names will usually perform at a higher level. |
| Everything ranging from inadequate loan financing to | | | | An experienced Loan Originator should be able to set |
| inaccurate surveys to that funny smell in the | | | | expectations for you of what your total costs are |
| basement. Anything can come up when you least | | | | associated with your home purchase. They should |
| expect it and put a dent in your home buying dreams. | | | | speak in specifics when it comes to your down |
| This is where choosing a team to work with becomes | | | | payment, closing costs, interest rate and loan product |
| so important. | | | | type. Be sure to ask not only what you can afford as |
| Most seasoned Real Estate professional have | | | | the bank sees it but what your affordability range is |
| experienced about every major setback that can be | | | | based on your lifestyle and other monthly obligations. |
| thrown at a buyer and that gives them the ammunition | | | | Just because someone qualifies for a million dollar |
| they need to avoid set backs in there next transaction. | | | | home may not mean they want the monthly payment |
| The same goes for the Mortgage Originator that is | | | | that goes along with it. Remember, most mortgages |
| going to provide your home financing. They are the | | | | are for 30 years so plan for a mortgage payment that |
| single most important people you will work with when | | | | you can afford now and down the road, |
| buying a home. | | | | accommodating for life events like child birth or |
| What is important is that you develop a relationship | | | | retirement. |
| with your Loan Officer and Realtor and ask for | | | | Your Real Estate agent should and will assist you in |
| referrals of trusted affiliates like Attorneys, Surveyors, | | | | locating a home in your affordability range, negotiating |
| Title Companies, Pest Inspectors, Home Inspectors etc. | | | | a sales price and terms that benefit you. They are |
| A trusted advisor like a Mortgage Originator should be | | | | your advocate in every aspect of the transaction. |
| able to provide you with at least 3 names of | | | | Expect them to communicate with the Loan Officer |
| Attorneys or Real Estate Agents that can represent | | | | and Attorney (where applicable in "Attorney" states) to |
| you in buying a home. Interview them and ask what | | | | validate your loan status throughout the process and |
| they will be doing for you and how it differs from their | | | | coordinate a closing. A Real Estate Agent will be your |
| competition. Educate yourself on what every ones role | | | | liaison to the sellers when it comes to following up with |
| is, the more knowlegde you have, the more options | | | | your requests on any property specifics like, water |
| you have. | | | | testing, septic certifications, surveys, roof validations |
| Also know, in uncertain times, consumers interact with | | | | etc. |
| brands they trust, and they align themselves with the | | | | A good Real Estate Agent and Mortgage Loan |
| strongest in the industry. The last thing you need to | | | | Officer should both be proactive in making suggestions |
| have take place is for the mortgage broker you are | | | | in all aspects of cost savings as it relates to your |
| working with to go out of business a week before | | | | home purchase. Most importantly, choose to work with |
| your closing date. Choose solid partners, industry | | | | winners who are committed and engaged in what |
| professionals with a track record of stability. The mom | | | | they do. With the availability of information via the |
| and pop shops out there are nice as far as | | | | internet and the millions of dollars spent to advertise |
| relationships go but when it comes to support, | | | | Real Estate agencies and Banks, word of mouth still is |
| resources and servicing (after closing), the larger brand | | | | the best way to find hard working people. |