Test Drive your Loan
The emphasis on "finding the best loan with the lowest interest rate" has been almost as important as finding the house itself. But how many people consider the aspect of selecting the right home loan to suit their needs and their lifestyle, rather than going for the alluring low rates?
Let's face it - if you were to consider buying a new car, you would test-drive several different models before finally selecting the one you will eventually buy.
Unfortunately, when buying a home, test-driving several different loans is not always possible - so it becomes important to select the correct loan to suit your own individual lifestyle right from the beginning. This is where 'test-driving' several different mortgage brokers becomes an important step in your overall financial strategy.
Speaking to a mortgage broker can open up many avenues you may have previously thought unviable - from finding out your own borrowing capacity, to consolidating existing debts, to learning about ways to increase your investment portfolio - A good mortgage broker can often steer you in the right direction to make your financial dreams become a reality.
The problem that is arising in today's market, is that it is becoming a difficult task to find the right broker for your needs. After all, there are now many more brokerage houses, all vying for your business.
So how do you choose the right broker to work with you on your personal goals?
Here are some things you should say and do when looking for a broker to work with you:
- Ask lots of questions - it's your money and your future. You need to be sure the person handling your finances is qualified to do so and that this is not there part time job.
- Ask for other possible options. Can you be sure that the broker you are talking to isn't trying to sell you a loan that benefits their pocket instead of yours?
- Inquire about the amount of lenders the brokerage house has direct accreditation & access to. Ask for bank references knowing a company that is held in good stead with many different banks means you are getting totally unbiased advice with the most possible options.
- Ask how that broker gets paid. They should get paid by the lender - not by the client! Don't be fooled If someone wants to charge you a fee to perform a service, check with other brokerage houses to see whether or not that same fee is charged by all.
- Ask what level of service you can expect to receive - and if there are any extra charges required to perform them!
- Feel comfortable with your broker. To work so closely with one person for your financial needs means that you should feel as though you can trust the person you choose to be your broker.
- Most importantly find out what extra services your broker offers you for free after your loan has settled, remembering you may be with them for quite some time.
Test Drive Your Loan Once you have selected the right broker with a reputable brokering firm that you feel you can trust, that person could become a member of your own personal "financial team" - working for you to achieve the goals you have set for your future.
The professional team at Acquired Home Loans are happy to answer any questions you might have regarding your financial future. Call 8363 9933 today and learn how your future could benefit from a better loan - and a better life! by Michael Capogreco | Managing Director | Acquired Home Loans |
