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Why Home Buyers Need an Experienced Lender

An Experienced Mortgage Lender Can Make a Big Difference

 

Rate is the most important thing in the world when buying a home, right?  For many, the answer is yes, but they couldn’t be more off target when it comes to where focus should be on buying a home.  Rate IS important, but probably not as important as a monthly budget, hitting numbers that are comfortable, and (perhaps most importantly) getting the right house to begin with.

 

Many people have loan issues and some estimates put the ‘fallout rate’ (the rate at which a home doesn’t make it to settlement due to issues along the way) for financed home offers as high as 30-something percent.  But once you ‘get’ the home, an experienced lender can continue to pay dividends.

 

In issues where experienced and skilled listing agents try to improve their client’s bargaining power a great lender will know how to protect their buyer’s information and improve their chances of getting a good deal on a new home.

 

Much of mortgage advertising focuses on rate, but not enough emphasis is placed on the experience of the lender.  A lender just issuing bargain-bottom rates may not have the experience to seek out potentially better products.  For example, most people don’t realize that a lower amount used for a down payment can be more financially prudent than a lower rate/mortgage payment – especially for families with other debts at higher or variable (or both!) rates.

 

Your experienced lender (like you’ll work with on the JM Loans team) will seek out the best products, ask the right questions, and determine which route is truly going to benefit you the most short- and long-term.  Sometimes, rate WILL be the most important feature of your loan, but more often than not, it’s structuring a loan that matches a client’s financial goals, and fits both their current plans and plans for the future (because remember, every time you change your mortgage through a refinance, it can cost thousands in closing costs.  Getting the right mortgage on day 1 is far more important than rate for most people, and you’ll only get the right mortgage by working with an experienced team!

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John Meussner | MLO NMLS 138061

Licensed by The Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. NMLS# 1141
MasonMac Corporate

Mason-McDuffie Mortgage

Office: (949) 247-7530

12647 Alcosta Blvd
Suite 300
San Ramon, CA 94583

Licensing:

Not  a  commitment  to  lend. Rates  and  terms  subject  to  change  without  notice. Licensed by The Department of Financial Protection and Innovation  under  the  California  Residential  Mortgage Act  No. 4130968; AL  #22653; AR  #32700; Colorado regulated by the Division of Real Estate; DE #019623; FL #MLD819; Georgia Residential Mortgage Licensee #20924; ID #MBL-5861; Kansas Licensed Mortgage Company #MC.0025601; KY: #MC701698; MD: #16927; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the NJ Department of Banking and Insurance; NC: L-152867; NV: #3681; OK: #ML012358; Licensed by the Oregon Division of Financial Regulation #ML-3808; PA: #37008; TN: #112513; Licensed by the Virginia State Corporation Commission #MC-5579, WV: #ML-31523/MB31759. NMLS #1141. www.nmlsconsumeraccess.org

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.