You Deserve More Than a Quick Quote

As any Loan Advisor can tell you, we often hear the following from prospective clients we call:

“I didn’t expect to receive any phone calls.”
“Why are you calling me? I just wanted some information.”
“I just need a quick quote of the interest rates.”

So why do we call on every inquiry we receive?
The answer is very simple: No one wants to be sent useless information.

Unfortunately, there is a multitude of misinformation out there regarding mortgages of all types, from refinances to purchases to cash out and debt consolidation equity loans. Any company that sends out a quick quote based on a form that lists only your home’s value, the remaining balance of the mortgage, and an estimated credit rating, is wasting your time, or worse, providing misleading numbers.

When you receive a call from an expert Loan Advisor, the first question they will ask is not what your home is worth, how much your remaining balance is, or what your income is. The first question they will ask is the most important one: What are you looking to accomplish and why?  Borrowers occasionally scoff at this question and reply, “Well, I obviously want to lower my interest rate.” Loan Advisors, of course, understand this. No one wants to pay more in interest! However, the motivations behind refinancing and lowering one’s interest rate can range wildly. Some may need a short term solution to pay bills more easily with a lower monthly payment. Others may want to yield a greater long term gain by reducing the remaining term and saving on the total cost of the loan.

Additionally, a Loan Advisor will take into consideration every aspect of your life situation, goals, and limitations, all in the interest of providing the most financially intelligent and customized loan options possible. Many borrows have never considered the benefits of consolidating debt, especially credit cards and other revolving accounts. After finishing the process with a Loan Advisor that takes these things into account, clients are often overjoyed at both the short and long term outcome of a loan that makes life easier.

A20-30 minute in-depth conversation initial discussion with a Loan Advisor has proven to make a significant difference in the outcomes of loans.

Written by: Chad Peelle, Senior Loan Advisor and Assistant AVP at Royal United Mortgage LLC
Published: 3/10/2016