Getting a mortgage on Bainbridge Island these days can be more involved than in years past, not least because their historically low rates make them so desirable. That loan can make or break a fantastic deal — the kind of deal you don’t want to lose when you come across it! Central to the process of getting a mortgage is your mortgage broker…but how do you know when you’ve found a great one?
These are some of the qualities I believe most often point to the answer:
- Truly outstanding mortgage brokers get tons of referrals from previous clients and their real estate agents…while other less well-appreciated or experienced brokers must constantly solicit new business. BUT (a very important ‘but’) that is not to say that a mortgage broker who solicits isn’t perfectly well qualified; simply, if you have selected a broker through his marketing, be sure to ask for a few recent references — and speak with them!
- Getting a mortgage often obligates as much as a third of a household’s income, so it’s vital that it fit properly into the overall financial picture. A great mortgage broker asks the right questions to find a product that best fits your long-term goals, even when they aren’t the easiest ones to ask.
- The rules governing mortgage transactions have changed significantly in the last few years — and they were plenty complicated to begin with. Learning much of the process on the fly is part of the challenge facing brokers who are new to the field. When you are getting a mortgage on Bainbridge Island, if you suspect yours will be anything other than a straightforward process, it may be best to look past a newly licensed broker. An easy way to learn how much experience your broker has is to inquire about his work experience over the last 10 years.
Getting a mortgage on Bainbridge Island can be complicated, but it’s often decisive for your real estate transaction. I’ll be happy to introduce you to some of my proven local favorites. It’s one way we’ll be ready to go when we find you the perfect house!