Relationship Goals With Your Mortgage Broker
Buying a home is more than a transaction. Becoming a homeowner is a gateway to financial security and building wealth. Additionally, buying a house gives you a place of your own. A place where you can make memories with those you love. A place that you can pass down to those you love. Buying a house is a cornerstone of the American dream. By that same logic, the people who help you buy a home are more than mere business people. Your realtor is much more than a salesperson. They are a guide who helps you on your path to homeownership and all of its benefits. Your mortgage broker is more than someone who helps you secure a home loan. They help you secure the key you need to unlock your dreams. If your mortgage broker is more than securing lending, then what should your relationship goals be with them?
Your Relationship with Your Mortgage Broker is Built Upon Trust
Whether you realize it or not, your relationship with your mortgage broker is built on a great deal of trust. Your mortgage broker knows more about you than many of your closest friends and relatives. About 53% of all Americans have hidden financial secrets from their romantic partners. This includes hiding debts, hiding purchases, or even hiding new credit lines. When it comes to keeping your financial status close to the vest, the numbers go up even higher when we are talking about friends. How many of your friends or family know your credit score? Do they know how much credit card debt you have? What about how many credit cards you have? Do you tell all of your relatives how much money you have in your savings account or retirement account? Chances are that there are few people on this planet who know your financial situation to this degree.
Well, your mortgage broker knows all of these details. They know all of your financial secrets. They know how much you have in your accounts and how much you owe to other lenders. The information they have about you is not exaggerated boasting or demure misdirection. It is the truth and backed with the full force of the law.
The trust you have with your mortgage professional goes beyond the financial secrets they know about you. It should also extend to the faith that you have in them to do the right thing for you. There are many loan products and lenders on the market. Different loan types and different lenders have different agreements with brokers. To be blunt, brokers get different commissions based on whichever home loan you choose. Do you trust that your mortgage broker is going to guide you to the loan type and lender that is best for you or best for them? Everyone has a different financial situation and different loan products are best suited for these situations. You should have complete trust that your broker is setting you up for financial success and that their goal is to find the loan that is right for you.
Your Relationship with Your Mortgage Broker is Built Upon Life-Changing Events
When you have your biggest moments in life, it is natural to want those you are closest to near you to celebrate these moments. When you have kids or celebrate marriage, you want to share those days with the people you love the most. Buying a house is one of these moments. A house is a lot more than just a place where you stay. A house is a place where you make memories and lay down roots. Buying a house is truly worthy of a celebration.
It then says a lot that when you buy your first house that your mortgage broker is there to usher in the sale.
Our profession is about making memories. Our profession is about changing lives. Buying a house is about much more than a sales transaction. It is about securing the keys to your future. We understand the gravity of these moments and we take great pride in helping facilitate these moments. We take great joy in helping build these memories. Few things are as satisfying as helping someone buy their first home. After that, it is just as satisfying as helping someone move out of their starter home and into their dream home. These are the moments that punctuate our lives and we are honored when our clients choose us to help make these dreams reality.
Unfortunately, the life-changing moments in life are not all happy. That is the duality of life. You cannot have the good without the bad. As much as we celebrate the birth of children and grandchildren, we also know that we will have to mourn the loss of friends and family. As sure as we are to toast to a big promotion, we will sometimes have to seek comfort in each other in the wake of an unexpected job loss. You deserve a mortgage broker who can help you through these times, too.
On a long enough timeline, hardship is inevitable. Over the course of the pandemic, millions of Americans have experienced hardships. Millions of Americnas lost their jobs and millions of Americans have fallen behind on their bills. Tragically, this includes falling behind on their mortgage payments. This has resulted in millions of Americans having to go into forbearance and a vast majority of them are unhappy with their loan servicers. When you fall behind on yoru mortgage and have to make a forbearance agreement, this is arranged between you and your loan provider. Your mortgage broker is not necessarily a part of the agreement. However, they should play a role.
Even though your forbearance agreement is with your lender and not your broker, you should give your mortgage broker a call to discuss your forbearance with them. Our mortgage professionals are true experts at the loan process and our insight might be able to help you during these troubled times. When we take on a new client, we are taking the commitment to help you in all of your big life moments. That includes the good times, such as buying a house, and hte really bad times when you might be at risk of losing that house. When the stakes are highest, that is when you should turn to the people you trust. One of those people you trust the most should be your mortgage broker. If it is not, then you need to reevaluate your relationship with them.
Final Thoughts
At Peoples Choice Mortgage, our clients are more than clients. They are friends and family. Our professional role is to act as lending stewards that can help lead our clients to achieving life-changing goals. This is a great responsibility and we knowingly take it on with pride and diligence. We are committed to helping you find the right loan products for your exact situation. We are committed to helping you buy a home so that you have a place to make the type of memories that make life worth living. Even more importantly, we are committed to be there with you when times are the hardest and you need support. This is the type of relationship we want with our clients. This is the type of relationship we have with our clients. The question is, what kind of relationship do you want with your mortgage broker?
