“Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” -Warren Buffett
As one pursues a new mortgage, he uses a broker to help him find and close a home loan. Brokers are the ones who earn their pay – they make a complicated and confusing process easy. Sure it takes experience and smartness on the part of the broker to help him find the best loan. Find someone who has the following traits before getting her involved on your venture.
1. Precise and detail oriented
Mortgage is such a perplexing financial transaction. There are so many details that should be given attention to if not everything will crack if the broker isn’t firm. Too, when you interview a prospective broker, be mindful to those who call you back quickly and are quick for meetings. It is good to ask for lists of references from vendors whom she had do business with such as established companies. These people depend on a fussy people as much as you do.
2. Honest about fees
Brokers work hard for money, and they deserve to be fairly compensated. Make sure you’ll be able to find someone who is upright it won’t be hard for him to disclose compensation. Look out for those who are uncertain about fees or decline to discuss matters.
Don’t be deceived for those brokers who promise to give you the world. There are those who play bait-switch game, trying to hook you unto their clutches. It maybe they’re going to pass through some hidden fees, or change your rate at the last minute.
4. Your interest must be on top of her priority
Be on guard of those mortgage brokers who’s too eager to close the loan. Individual like this are the ones selling the loan to fill in their personal interests, not yours. Broker should help you asses a mortgage within the condition of your financial status. Don’t get persuaded for a broker who tries to get you to go for broke that is larger as she insists, “It’s just a little extra a month”.