Mortgage Preflight Briefing™
The Mortgage Preflight Briefing™ is the first step in the mortgage process and should be accomplished even before you begin shopping for a mortgage. This step includes the consultation with your Mortgage Pilot™, allowing for him/her to get to know you. Your Mortgage Pilot™ will want to completely understand your situation, your needs, your goals, and your level of knowledge to provide the best guidance throughout the mortgage process.
If you have not applied with a lender, your Mortgage Pilot™ will spend plenty of time helping you understand mortgage financing and learning your homeownership needs and goals. Your Mortgage Pilot™ will discuss techniques on how to shop for a mortgage, how to find a genuine mortgage professional, and how to apply for a loan. Your Mortgage Pilot™ will answer any questions you may have and assist you throughout the process.
If you have already applied for a mortgage with a lender, your Mortgage Pilot™ will still spend plenty of time ensuring that you are on the right path, taht you are clear about your needs and goals and understand mortgage financing. Remember that even if you started down the wrong path, your Mortgage Pilot™ can help you fix any mistakes made and get you back on the best path for obtaining the loan that meets your situation.
So why is it that most loan originators don’t take the time to fully consult you on your mortgage?
You will find that most loan originators do not perform a consultation, merely take your application and begin the mortgage process. There are several reasons for loan originators skipping this vital step, most of which centers around lack of experience. Most loan officers, mortgage brokers, etc. are taught how to take an application and “package” a loan for submission. However, the vast majority of loan originators lack the knowledge and experience to fully consult you, or even ensure you are placed into the best loan program for you. You can lay blame where you want, as both lenders and mortgage originators lack the motivation to educate themselves. With high turnover ratios and the desire to keep costs down, mortgage companies across the spectrum do not typically offer adequate training. Most loan originators are motivated to make money as quickly as possible and may not even know how much they don’t know.
As complex as the mortgage business is, it takes a dedicated loan originator and a willing mortgage company to provide the level of knowledge required to adequately consult you and provide you with the mortgage that truly fits your needs. With that in mind, you need to seek a loan originator who demonstrates his expertise and knowledge in varying products, services, strategies, and even the markets. Anything less will not guarantee you the best outcome regarding your mortgage, possibly even costing you in the end.
Another reason loan originators do not normally offer a mortgage consultation is the time it takes. They may have set goals they need to meet or are pressured by their bosses to “keep moving”. In some companies, especially in call centers, loan originators are actually reprimanded for spending too much time with a client. You need to make sure that the mortgage professional you are working with is willing to dedicate the time necessary to meet your needs and provide you with the best service possible.
The bottom line is you need to take the time to find the right mortgage professional, which can be done fairly easily if you know what you are looking for and know what questions to ask. You are almost guaranteed to end up working with someone whom lacks the experience, skills, and knowledge required to provide you the best guidance on what will likely be the biggest financial decision you can make. The mortgage you obtain can make or break your financial future, so why not ensure you have an experienced, knowledgeable person on your side to avoid disaster. Our Mortgage Pilots™ will do exactly that.
