Real Estate Financing...

Who Holds Your Best Interests Mr. Consumer?

     In the age of Internet shopping, competition seems as tough as ever, if not totally skewed.  Competitive business practices typically allow the consumer to get a better product, yet with so many options & firms biding for your business....who can you trust?  The Internet savvy big-name mortgage marketing gurus have flooded emails, pop-ups, banner, & search engines with promises of a mortgage loan that is akin to an euphoria Leonardo DiCaprio too expected to encounter and live amongst in the movie "The Beach."  Sales, like life, is a complex and interesting endeavor and euphoria rarely rears its idealistic head.  If it is too good to be true, it probably is.  There is much competition to garner your business.  Who can you trust to deliver a fair and affordable product for your particular situation?  Why do some 'offers' seem so much better than others?  I'll tell you my take.  Sometimes it seems in this biz that you are competing against ghosts.

For the past few months here at our firm, we have been involved with a lead company providing leads harnessed through the net.  Individuals simply inquiring about their options when purchasing or refinancing their home fill out some basic information and the 'lead' is now on its way to be fought for by numerous companies.  Psychology, Manipulation, Charm, Persuasion, Persistence, Charisma, & Follow-up are only a few of the terms associated with the art of the sell.  That art is more than just selling a product that many companies have similar access too, it's selling yourself.  Being in the biz for a mere 5+ years, I've tried to create a checklist of how, as a consumer, I would not only choose but would want my mortgage professional to work for me.

I want:

-Bottom Line>>>  Can I get the financing to buy a home?.  Will this refinance go through?  If there are going to be obstacles, let me know what they may be and how I can help to get through them?

-Trust>>>  Always earned, rarely given.  I'll let them interview me as part of the application process but I would also be sure to interview them as well for the position of My Mortgage Consultant.

-The Know>>>  How are you paid?  Is it a reasonable fee?  How does the loan process work?

-Options>>>  I want them.  Not too many but enough to make an informed decision on what best fits my ideal situation...both now and down the road.

-Accessibility>>>  Don't treat me like an unwanted ex, return my calls & emails in a timely manner.  I shouldn't have to beat down your door to close my loan so you can make money.

-Communication>>> Oh, this is a biggie!  I don't like surprises but I know stuff happens.  When you find out the good, bad, or indifferent, let me know right away. 

-Lip Service>>>  I'm not a big fan.  Don't tell me what I want to hear, tell me what is as you know it.  I don't need a politician here, I need a Trusted Adviser working to get a mortgage that makes sense for me.

-The Human Element>>>  I want to know you care and have the heart of Rocky Balboa & the soul of the Dhalai Llama, or at least you won't be a stranger after the deal is done.

-What Makes You Different>>>  Oh, you're local?  That's wonderful.  You've helped customers move into their house?!?  Excellent!  You will be at the closing?  Great!

      And through this simple exercise, this will help me continue to evolve in being the best mortgage guy I can be.  Not only should one exceed their client's expectations, but surely live up to their own.

• How long will this loan take to close?

Your loan may close in as few as 10 business days. However, the average transaction closes within 28 days.  Yes, we track these things. 

• What type of documentation do you require?

Various loan types require specific documentation. This could range from nothing but your signature on pre loan disclosures to w-2's for the last 2 years, your 2 most recent paystubs, your last 2 months of banking statements, etc. At the point of application your consultant will let you know exactly what you need.

• Should I make my next mortgage payment, even though I'm refinancing?

Most definitely. Since your obligation under the mortgage you currently have is due and payable until its paid off, you should continue to make payments until that loan is paid in full by your new loan. Missing a payment could adversely effect your ability to refinance.

• I don't live near you. Do we have to meet in person, or can I fax or email you the required documents?

By all means. We've closed loans all over the state of Pennsylvania for people we've never met in person.  Though we take pride in an ultra personalized approach to doing business, often times distance and schedules inhibit the ability of a formal meeting. We aim to make this process as fast and easy as possible for you.

• Can I buy a home even if, my credit is bad or I've had a bankruptcy or repossession?

With over 200 different investors at our disposal, the chances are good that we can find you the financing you seek. The worst case scenario is that we can help you to establish a plan to restore your credit and set a target date to purchase a home. Over 125 years of credit experience on your side will be a huge help in making the right decisions to lead you to your goal of homeownership.

• Why should I do business with you?

We think our mission statement developed by all our associates here at First Choice Equity Group says it all:

We will help you achieve your long term goals by
Delivering mortgage solutions with the highest
Commitment to Quality and Integrity, because
WE CARE.

• Can I get prequailified to purchase a home?

Yes we offer a free prequailification, call us and we can get you a pre-quailification letter in hours, and we'll be happy to fax or email that to you and/or your Realtor

• Do I need a lot of money down to purchase a home?

The fact is the majority of the purchases we close are 100% financing. Often times, this is set up into two loans which allows you to avoid mortgage insurance which can be a hefty and unneeded payment.