|
|
|
Welcome to
Carteret Mortgage!
|
Mortgage PlannerWhat exactly is a Mortgage Planner and how does this individual differ from a Loan Officer? First, lets look at what a typical loan officer does when working with a client. When you call and tell them you are looking for a 30 year fixed rate loan they will quote a rate to you and (hopefully) create and email a Good Faith Estimate of your closing costs. If the numbers work for you and you proceed, they will take the loan application and supporting documentation and complete the required disclosures. The work certainly goes on from there but the process is basically the same if you are working with a Loan Officer or Mortgage Planner. To examine what makes the difference between a Mortgage Planner and a Loan Officer, we need to look at and understand one basic premise of how I work. "The lowest rate on the wrong loan product for your specific situation, can set you back from meeting your financial goals by years if not decades." I never, as a mortgage planner, take a one size fits all approach. I look at your mortgage as a tool to meet your financial goals and not simply as a loan to get you into a home. The appropriate loan choice for an individual approaching retirement will likely be very different from the right choice for a young family buying their first home. If you are working with a Financial Planner to increase your assets, you may choose (as many of my past clients do) to consider me a Debt Planner as a great deal of my work is in reducing debt to free up assets for investment opportunity. A Mortgage Planner will typically have invested in Mortgage Planner financial modeling software that goes beyond simple side by side comparisons of different loans. I have included a presentation on what the powerful software can do by following the link above. I will probably ask you questions that a typical loan officer will not ask, such as, how long do you plan to be in the home, when do you plan to retire, is your income increasing or decreasing, are you an aggressive investor or are you risk averse. The list goes on but the point is that, in order to put you in the loan that will best help you meet your goals, I need to know a bit more about you than simply what is on the standard loan application.
As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come. Read more about this free, no obligation service. New!
|
