Are you considering purchasing a home soon? Unless you have a large sum of cash saved up, the chances are high you’ll need to obtain a mortgage loan for your purchase. Searching for a mortgage can be challenging and overwhelming, as there are many options and loan programs to explore. You’ll have numerous things to consider including rate, down payment and credit qualifications, to name a few.

The selection of a mortgage program and terms can be tough going it alone – even more challenging than finding the perfect house! Mortgage professionals, also known as loan officers or mortgage consultants, are licensed specialists who have the expertise to tailor a home financing solution to help you reach your goals.

What Does a Mortgage Professional Do?

A mortgage professional is someone who works within the mortgage industry and assists clients in obtaining home loans. These professionals have extensive knowledge of loan programs and guidelines, helping their clients navigate loan product specifics to find a financing solution that works best for them and their financial situation. Mortgage professionals assist their clients in planning and budgeting for a down payment on a house. Additionally, an experienced mortgage professional will go over your finances with you to make sure you can afford your monthly payments, and that those payments align with your personal budget and financial goals.

Mortgage professionals know exactly how mortgages work, and how to make those mortgages work for you. They are the equivalent of your real estate agent in the home buying process, only they do the work of getting you financed and getting your transaction closed.

How Can a Mortgage Professional Help You?

When finding an ideal home financing solution is important to you, a mortgage professional can be an invaluable resource. Critical ways a mortgage professional can assist you include:

• Get you pre-qualified for a mortgage, so you have an idea of what you can afford when you are shopping for a home
• Get you pre-approved for a mortgage, so you can go into home buying negotiations with confidence, knowing you’re pre-approved for financing
• Find the mortgage product and terms that best fit your unique needs and goals
• Provide you with a central point of contact to collaborate with and rely on during your home financing process
• Help you make sure you are turning in the correct documentation, doing it on time, and that everything is properly signed and notarized
• Work with you personally right up until you close on your new home

Mortgage Professionals Put You In A Position Of Strength

We’re guessing you wouldn’t make a large financial investment without talking to an investment professional. You probably wouldn’t buy large quantities of stock without talking to a stockbroker. Additionally, you won’t put an offer in on a property without talking to a real estate agent. So, why would you shop for a mortgage without talking to a mortgage professional?

A mortgage professional can be a vital part of your home buying team. You have your real estate agent, your title company, and, depending on the state you are purchasing in, your real estate lawyer. These professionals, in addition to the sellers and the sellers' real estate agent, play crucial roles in your home purchase transaction. When it comes to purchasing a home with financing, it really does take a village. Your mortgage professional is possibly the most important part of this team.

Additionally, knowledge is power. Unless you’ve spent a considerable amount of time within the home financing industry, it’s likely you don’t have the information necessary to ensure you’re choosing the best possible program for your situation. You probably haven’t studied mortgage law like most mortgage professionals must. While there are many online resources to help borrowers learn mortgage basics, a mortgage professional will save you valuable time by sharing their expertise and knowledge. Furthermore, because there are a variety of loan programs with varying requirements and guidelines, it can be difficult for the average person to understand what they qualify for and how choosing one loan program may be more beneficial than another.

The mortgage professional you select to assist you during your home buying transaction is on your side. This means you have an individual dedicated to answering any questions you may have, structuring a home financing solution to help you reach your goals and ensuring your loan closes on time, making the move into your new home seamless. Establishing a relationship with a mortgage professional can also help you in years to come when you’re ready to refinance or purchase and investment property. If you are shopping for a mortgage, you owe it to yourself to have an experienced, respected and knowledgeable mortgage professional on your team.