As a mortgage broker, when first entering into the mortgage industry many years ago, my impression was that the major difference between a mortgage broker and a bank was that we could beat the rate every time. This was putting value only on the interest rate, while which is important should not be the core focus.
As the guidelines in the industry keep changing, more and more value is increasing in the broker channel and for the experienced agents.
The question was asked: “Is there too much competition in the mortgage industry?” My response was and is, no. While acknowledging that the number of mortgage agents is higher, the experience is far lacking. As there are so many agents available, it really allows for some to exceed expectations.
What separates the experienced agents from the non-experienced agents is the ability to customize mortgage needs. Determining where a client is and where they want to be is a step so vital that if not done correctly, can have numerous effects in both the short and long term. This means more than simply asking questions of “What is your name” or “Where do you work?” and “How much do you make?” It means asking the questions to determine all needs. This changes the data entry questions into knowing your client which is much more important.
Anyone and everyone can own his or her own home. An experienced mortgage agent will be able to determine immediately if the time is now and if not, when and how to get there.
To find out when you can become a homeowner, or if you are already a homeowner who wants to upgrade but are not sure if you can, please contact me directly – it is likely closer than you may think!