Getting advice from mortgage experts could potentially save home buyers from choosing the wrong home mortgage for their financial situation. The person the buyer chooses to obtain mortgage advice from should be a qualified expert; someone who has experience in the complete mortgage process and who has completed hundreds of mortgages from the application process to closing. Qualified professionals who can give expert advice include mortgage brokers and loan officers as well as realtors.
There are also a number of independent financial advisors who are trained in all personal finance matters, including mortgages, who can give first-time home buyers helpful advice on making the best home purchase. For home buyers who would rather find their mortgage advice online, a number of online advice sites also give credible advice to first-time home buyers.
Mortgage brokers
A mortgage broker is a professional who brokers loans for financial institutions or individuals. He is not an employee of the mortgage company and has access to multiple lenders. The mortgage broker can give first-time home buyers unbiased advice, not promoting one particular lender over another since he receives payment from any mortgage lender where he places a customer.
Mortgage loan officers
Loan officers can also be helpful in giving mortgage advice. However, the buyer should be aware that he will be promoting the loan products of the lender he is working for. With this in mind, the loan officer can still give helpful advice to all the ins-and-outs of the loan process, as he has completed hundreds of loans for customers buying homes.
Realtors
Realtors represent both sellers and buyers in the home mortgage process. They possess certifications and have completed multiple courses concerning the intricacies of the home mortgage loan process. Being involved on both sides of the mortgage process gives realtors a unique perspective, and they are often willing to help first-time home buyers obtain the best mortgage deal possible.
Independent financial advisors
Independent financial advisors are knowledgeable in all areas related to personal finance, including mortgages. The independent mortgage advisor is also not tied to any one particular lender, so he will give the buyer the worst and best qualities of each mortgage lender available. He will conduct an interview and review personal financial information, including income information, expenses, credit history and scores; and give the buyer the top options for the situation. The consultations are normally conducted on a fee-basis depending on which services the client needs.
Online advice service websites
Online mortgage advice websites are all over the web. However, not all information gained from these websites can be considered reliable. There are a number of online mortgage service websites that will actually review mortgage loan paperwork for customers, for a fee, to help them determine if they are receiving the best deal possible. The borrower sends in a copy of the mortgage loan documents by email or fax, and then receives a professional evaluation of the mortgage loan.
Seeking advice from experts is a smart move for first-time home buyers. Buying a home is an important financial decision and should not be entered into lightly. Having all the facts before approaching a mortgage lender for a loan is the best way for borrowers to find the right home mortgage loan.
There are also a number of independent financial advisors who are trained in all personal finance matters, including mortgages, who can give first-time home buyers helpful advice on making the best home purchase. For home buyers who would rather find their mortgage advice online, a number of online advice sites also give credible advice to first-time home buyers.
Mortgage brokers
A mortgage broker is a professional who brokers loans for financial institutions or individuals. He is not an employee of the mortgage company and has access to multiple lenders. The mortgage broker can give first-time home buyers unbiased advice, not promoting one particular lender over another since he receives payment from any mortgage lender where he places a customer.
Mortgage loan officers
Loan officers can also be helpful in giving mortgage advice. However, the buyer should be aware that he will be promoting the loan products of the lender he is working for. With this in mind, the loan officer can still give helpful advice to all the ins-and-outs of the loan process, as he has completed hundreds of loans for customers buying homes.
Realtors
Realtors represent both sellers and buyers in the home mortgage process. They possess certifications and have completed multiple courses concerning the intricacies of the home mortgage loan process. Being involved on both sides of the mortgage process gives realtors a unique perspective, and they are often willing to help first-time home buyers obtain the best mortgage deal possible.
Independent financial advisors
Independent financial advisors are knowledgeable in all areas related to personal finance, including mortgages. The independent mortgage advisor is also not tied to any one particular lender, so he will give the buyer the worst and best qualities of each mortgage lender available. He will conduct an interview and review personal financial information, including income information, expenses, credit history and scores; and give the buyer the top options for the situation. The consultations are normally conducted on a fee-basis depending on which services the client needs.
Online advice service websites
Online mortgage advice websites are all over the web. However, not all information gained from these websites can be considered reliable. There are a number of online mortgage service websites that will actually review mortgage loan paperwork for customers, for a fee, to help them determine if they are receiving the best deal possible. The borrower sends in a copy of the mortgage loan documents by email or fax, and then receives a professional evaluation of the mortgage loan.
Seeking advice from experts is a smart move for first-time home buyers. Buying a home is an important financial decision and should not be entered into lightly. Having all the facts before approaching a mortgage lender for a loan is the best way for borrowers to find the right home mortgage loan.
