What saves you thousands on your mortgage (but is tricky)?
Research shows that the number one way to save thousands on your mortgage is to effectively comparison shop. Sounds easy, right?
Then why do so few people do it well?
Because it’s much harder than it sounds. But if you want to find out how you can do it well, read on.
What can comparison shopping do for you?
The Consumer Financial Protection Bureau Research (CFPB) research has showed huge benefits from being able to successfully shop around. A CFPB report shows that you can save more than $3,500 within the first five years of your loan just by shopping around!
How successful are people at shopping around?
Most people do this poorly or not at all. Less than half of mortgage shoppers get quotes from more than one loan officer.
Are they lazy? No. It’s because for each different loan officer you deal with, they have a whole different set of requirement and process. It can be doubly time consuming and frustrating.
Also, the first loan officer you call will quote you rates that already sound great before you even send your paperwork that would actually determine your interest rate. Why keep shopping if you think you’ve already got a great deal?
But, guess what? The interest rate and terms change as you get further along.
By then it’s too late to shop around and you’re stuck.
If you only have one offer then you have no leverage and no power to negotiate as if that one deal falls through, you don’t get to buy your house.
What’s a better way?
A better way is to get yourself organized up front so that you can affectively comparison shop efficiently and not get bogged down in the paperwork.
Next, it’s to have the knowledge of how to deal with loan officers, questions to ask, know what disclosures to ask for and when. That way, you’re in a strong position to negotiate.
And finally, it’s the ability to compare one offer to another in a smart, savvy way so that you can tell it’s good for your individual goals. After all, quotes can have many different fee categories and very hard to compare in an apples to apples way.
What’s the result?
The result of being able to effectively comparison shop, negotiate and make sure that you loan meets your individual goal is worth thousands of dollars. More than that, an efficient, proven process saves you valuable time and makes you a more attractive competitor in getting the home you really want. And, saves you thousands on your mortgage.
Our solution
Because shopping around effectively has proven with research to save so much money, and because doing it well can shave lots of time off the process and make sure you get the loan that fits your individual goals, we came up with a tried and true process to help anyone achieve these results. This saves you thousands on your mortgage.
This process makes it easy to get organized, get offers, compare offers, negotiate, make sure the loan fits your individual goals, and save a lot of time.
And, you feel confident in your decision, knowing you got the best possible deal. Our program is called IMG: Instant Mortgage Genius. Have the knowledge of the most experienced mortgage person, instantly.
Our program includes:
- A simple process and tools to deal successfully with any mortgage lender. Stay one step ahead, at the mercy of no one, with the most negotiation power, and save the most money with no surprise fees, ever.
- Our exclusive IMG App that gives you expert advice on all of your options and instant feedback on your offers, sorted by 10 criteria. Snap a picture of your offers and we do the rest.
- Weekly web sessions and 24/7 question forums, so you get all your critical questions answered exactly when you need it, until you successfully close on your dream home.
- It’s the safety net you need to make sure your biggest financial decision is your best financial decision.
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