How to stay one step ahead of your mortgage broker
The tools and information we have developed for you is around these principals:
- People should be able to see the cost of their mortgage for any point now, or in the future
- They should be able to see all the details of their loans
- That equity is an important consideration and should be clear, along with trade-offs
- That mortgage quotes should be able to be compared easily, and apples-to-apples
Makes sense, right?
As it turns out, knowing the details of your loan sometimes (not always) makes it harder to sell mortgages. And, showing trade-offs can often make it harder to get people to refinance.
Here are some choice quotes we heard from mortgage people over the years:
“If people know what it does (a certain loan product), they won’t want it.”
“For many it’s depressing when they realize actually how much interest they pay. It’s not something that we show.”
“I prefer to leave the calculating to me and not my client.”
And my favorite:
“This cuts down on my refinance business because people see what the trade-offs are.”
It is amazing that those words actually came out of mortgage people’s mouths without hesitation.
This is why you want to stay one step ahead of your mortgage broker by having clear, unbiased information that can let you easily and independently see and decide what’s best for you.
Are you thinking of refinancing? Head over to our refinancing page to get the real deal about your options without having to initially contact a mortgage loan officer and give any of your private information.