We often talk about the special attention that we give to our clients, but sometimes it’s not so clear why this type of specialization and dedication is needed in the lending industry.
However, if you talk to someone who has had a troublesome experience with some type of mortgage or refinance process, they’ll tell you in great detail why it pays to have a lending partner on your side who will help you through the process in a fair and humane way.
To put it another way, people who have never encountered the bad side of this industry might not know what’s really lurking around the corner.
Here are three reasons why it pays to have a company that is willing to work with you in a fair and reasonable way to obtain financing for your property.
It’s Partially About People
Experienced loan officers and others who have been in this industry for a while will often admit that while financing is a lot about math and money, it’s also dependent on having the right people in the right roles. In some cases, there’s some amount of tension and even conflict to be expected, as the lender and the borrower don’t always see eye to eye. Then pros may wrestle with any number of administrative challenges that have to be overcome and without people skills, that process can get really difficult.
Interest Rates and Lending Challenges
Here’s another reality that newbies just don’t understand…
It’s simple, right? You access the best interest rate, and you go to the settlement.
Yes, but here’s the thing – the interest rates change every 24 hours.
That can’t be – why would the banks do that?
The way that the financing industry has evolved, it really is true that banks and other lending stakeholders have a rotating set of interest rates that change every single day. You might be able to imagine the consternation and challenge that this causes for someone who’s trying to lock in a fixed rate for a mortgage or refinance.
It puts the loan officer and the borrower under pressure – time pressure. It’s not something to brush off or take lightly. And that’s another reason why you need the best people on hand to really get set up with effective financing.
A Range of Programs
Here’s another aspect of helping people out with the best types of real estate lending.
Without a good professional partner to lean on, how do you really know which kind of loan you need? Could you benefit from a reverse mortgage? FHA or conventional? Do you want to buy points? Do you need something without a prepayment penalty?
The average person is not well-versed in this industry jargon. They have jobs and lives to attend to. They need someone to lead them through this complicated and complex process.
That’s a little bit about what we’re talking about when we talk about TLC. It’s not like buying a sweater – financing takes some skill and acumen to get the deal done right. And as our grandpas used to say: “if you can’t do it right, don’t do it at all!”
