Home ownership is one of the most important financial decisions you will make in your lifetime. But finding the right home isn’t the only thing you need to focus on, you also need to choose the right financing. To get the best rate, you need detailed research and a solid understanding of the mortgage landscape. Fortunately, a mortgage advisor can make your life easier. With an experienced consultant on your side, you can get the information, advice, and guidance you need to get the best rate and term for your lifestyle — here’s how.
They Know the Market Inside and Out
When it comes to applying for a mortgage, there’s a whole lot of information to know to understand the process entirely. While you may have a basic understanding, a mortgage advisor is specially trained in every aspect of the homeownership process. That’s why you need a mortgage advisor who knows the market inside and out — someone who routinely studies the market, can recite all the lender’s rates off the top of their head, and can compare each company on a regular basis.
They Help You Make Informed Decisions
It’s a mortgage advisor’s job to educate their clients on all the important information about the home purchasing process. They will explain any complex terms and phrases you don’t understand and will answer all your questions with detailed and informative answers to help you decide what’s right for you.
They’ll Create You a Plan for Your Future
If you’re not sure where to start, a mortgage advisor can help you create a mortgage plan that is right for you, now and into the future. Unlike a broker, an advisor will compare all the lender options available to you and then advise on the best solutions for your financial goals.
They’ll Reassess Your Mortgage Needs
Your needs and wants will likely change over your mortgage term. A mortgage advisor can help you create a renewal strategy that will work better for your current situation and future life goals. They’ll make sure you don’t miss out on any opportunities that could get you a better rate or get access to your equity when you need it.
They Can Save You Money
Another way a mortgage advisor can make your life easier is by saving you money. They can do all the complex math to calculate the expected penalty costs, potential fees that may apply, and compare the overall cost savings with taking on a new rate. They have the skills to determine if a new mortgage could end up saving you thousands in interest payments over the life of the term.
Don’t make a mistake with your money. Before deciding on a mortgage, contact us at The Mortgage Advisors. We’re trusted brokers who are dedicated to working with you on the best options to make your dream home a reality.