It’s been said before, but there’s never been a better time to get a mortgage. Rates today continue to be historically low, which means you’ll never be able to buy more home than you can now.
Of course, a mortgage is simply a low interest secured debt and as such, should really be entered into with some sort of long term plan that goes beyond getting the mortgage approved. If you have a home buying plan, great. If you don’t, here are some things to consider.
A mortgage without a plan is like a gym membership without a plan.
Well, actually there’s one difference; one costs a heck of a lot more than the other. That aside, the lesson is that without a mortgage plan, your success could be limited.
Every mortgage client wants the lowest rate available and everyone in the mortgage lending space knows exactly who’s offering what rates, so there are no surprises there.
But beyond searching for a great rate, you still need a plan to ensure that allows you to take full advantage of the potential a great mortgage offers you.
Your goals are unique. Your mortgage should custom-fit your goals.
Again, it’s essential that you understand your situation, how to reach your goals and what mortgage details and terms will serve you best. The best way to get those answers is to research more than one perspective, and that must include asking a mortgage professional for their opinion. It can only help you make a great decision, so take the time and do this right.
Track records matter
You’re probably going to own your home for a long time, it might be wise to talk with people who have succeeded helping others over a long period of time. Why? Well, this is the biggest financial commitment most of us make and having the peace of mind that comes with a proven track record is really worth its weight in savings. It’s nice to know that when you pick up the phone that the person you dealt with picks it up on the other end. That accountability is critical to your long-term mortgage success, and that’s our stock-in-trade.
Be brutally honest with yourself: If your plan isn’t working, get a new plan
Many mortgage clients are smartly folding their high interest debt into their new mortgage, which is obviously a brilliant way to stop the big interest wheel form churning relentlessly.
That’s a great way to start down a new path, but you also need to make changes in your life so that you can capitalize on this new easier, lower payment so that you don’t simply fall right back into high interest spending.
We’re experts at helping our clients link their new mortgage to their goals – not just for the moment, but for the years ahead as well. We may sound obsessive about linking your mortgage to a better financial future for yourself, but the truth is that when this is done right, many of our home owner clients experience the kind of freedom and control that they never thought they could, and that can be life changing. If your current plan isn't getting you where you need to be, you owe it to yourself to drop us a line and drop in for a chat. There’s no obligation and the very worst you can do is leave with a greater understanding of what it’s going to take to get you where you want to go with your next mortgage.
Many can offer a mortgage rate, but few will share what we will with you.
We specialize in “mortgages made easy”, and we’ll show you just how easy.
Looking for a mortgage? Wondering if you qualify? Interested in refinancing? Our secure and completely confidential “no obligation” quick-form can give you answers, fast. Find it here.