Mortgage Basics And Personalized Service Important For Borrowers Today
Linda S. Char, CMPS
Certified Mortgage Planner
Mann Mortgage, LLC
As Americans, we are facing and living through some unprecedented and challenging economic times. And for many of us, the financial decisions we make today will have far-reaching impacts on the security and well-being of ourselves and our families in the years to come.
You’ve heard it said, probably many times, that taking out a mortgage loan to buy a home is typically the biggest financial decision most Americans will make in their lifetime. This is especially the case in Hawaii where the average price of real property is one of the highest in the nation.
We also know that the mortgage industry has changed considerably due in part to the “subprime crisis” that rocked the financial markets a few years ago and continues to reverberate today. What has not changed is the need for borrowers to ensure that they are making the best decision when it comes to their home loan. And how can they be sure? The answer begins with this there is much more to it than “getting the best rate,” although getting the lowest possible rate is certainly important. This comment may be surprising to some, but consider this:
1. Every borrower has a unique financial profile and the mortgage needs to be structured accordingly. Although your relative, friend, or co-worker may have gotten a certain rate or done it a certain way, their experience may not be the best scenario for you. Choosing the right mortgage given your personal circumstances is a process that requires knowledge of the various available loan products and the guidance of an experienced lender. The key to your success as a mortgage borrower is working with a professional you can trust.
2. The mortgage borrower needs to rely on advice that will serve them not only in context with their present needs and goals but also in the future. No one’s financial picture remains static. Getting the right loan to begin with is important, but it’s also wise to take a look down the road. The guidance of a trusted financial advisor is routinely sought by those with large portfolios. Regardless of your means, it makes sense when making the biggest investment of your lifetime to have a trusted financial advisor in your corner…one you can reach out to and rely on when questions or uncertainties arise.
3. Personalized, LOCAL Hawaii service is available! In this day and age, it seems that everything we need or desire gets us “one size fits all” help either via automated phone messages, on the computer, or sometimes from a live person, but in a foreign country. Now, I am not knocking the advances technology has made in creating new and enhanced ways to get information and answers, but really, when you are making a decision about something as important as your mortgage, do you want to rely on a pre-recorded voice or an online interface to get the help you need? I think most would answer, “No!”
The good news is that in spite of all the changes in the mortgage industry, you can still have access to a real person to deal with your real-life questions or problems.
4. Local really is better. Ask any experienced real estate agent, keeping in mind they deal with many different kinds of financial scenarios in buying and selling homes, whether they prefer a local or a Mainland lender. The vast majority will tell you that location does matter! Why, you ask? Well, for starters, see items #1, 2, and 3. There are numerous advantages in working with a lender who understands the local market, which is unique in many ways, who has solid Hawaii-based relationships, and, most importantly can close and fund your loan locally when the happy day arrives.
So now that you’ve reviewed the things a borrower needs to be aware of to ensure a successful transaction, you may wonder, what does Mann Mortgage have to offer? You guessed it, all of the above! In addition, we have some of the most competitive rates around, including FHA, VA, and USDA Rural Housing loans, and we love to work with first time home buyers. I, or any of my fellow Mann Mortgage Loan Officers, will be happy to answer any further questions you have. As a Certified Mortgage Planner, it would be my pleasure to work with you to make sure that your mortgage financing is perfect for you right now, or to help you make any needed adjustments via a refinance in the current ultra-low interest rate market. And, since I know that my clients often need to get in touch outside of working hours, I don’t limit my availability to 9 to 5 on weekdays. My commitment is to answer the phone and return calls personally. Thanks for reading! Here’s to YOUR financial success.