5-Star Mortgage Experience
Mortgage Strategy Above All Else
Treasure Coast Home Loans
Most brokers have access to the same systems. All of us can take your loan application, and help you shop for a mortgage.
But we are far from cashiers at a supermarket. An inexperienced broker can cost you 10s of thousands of dollars.
When an inexperienced or lazy broker doesn't take the time to understand your investment objectives, financial objectives, payment objectives, equity objectives, cost objectives and tax objectives, you end up with the wrong mortgage. Worse, you will put yourself is a tough financial position.
Simply put, bad brokers don't talk strategy.
You don't want an inexperienced mortgage broker. You definitely don't want a lazy mortgage broker.
You want a 5-star broker. Better yet, you want a 5-star mortgage experience.
During your 5-star mortgage experience with Treasure Coast Home Loans, our mortgage expert will ask you the right questions to match your personal circumstances to the right mortgage strategy. We get there by mapping your mortgage objectives to the right loan terms, type, rates, payments, and costs.
Check out our personalized 5-star experience below. If you like how we do things, schedule a call with our experts.
Understanding Your Investment Objectives
What is most important to you about this home loan? This is a big question that can go a long way to understanding your objectives and matching those objectives to the right mortgage product and terms.
For example, you might be trying to occupy and flip a house in 3-years. In this case, you need cash more than anything else. We have to find a low-downpayment option that might have a slightly higher rate. Contrary to our house flipper, you might be retiring in 20-years, and a 15-year mortgage might be a better option for you. Or, you might be purchasing a second home for investment and tax reduction purposes. Each of these scenarios call for different investment and loan strategy. Rates matter, but so do many other factors.
If your lender or broker hasn't discussed a mortgage strategy with you and provided you with a total cost analysis, give us a call, 772-444-6362. This planning session is free. We just want to make sure everyone has a mortgage strategy and understands their options before buying a home. Low interest rates are great, but "The bitterness of poor quality remains long after the sweetness of low price is forgotten." -Ben Franklin
Understanding Your Financial Objectives
What can you afford and what do you want to pay? These numbers can be drastically different.
How much you can borrow is not always how much you want to borrow. Sure, you can pay $3,000 a month, but do you sacrifice vacations, weekend getaways, and fun?
How you want to spend your money greatly determines your financial objectives. AND how far you want to stretch your finances effects your terms and rate.
Most brokers just run you through a typical 30-year fixed conventional loan or FHA loan, and they tell you how much house you can "afford." What they don't do is take the time to understand your financial objectives and mortgage strategy. If this sounds familiar,
reach out to a mortgage advisor at Treasure Coast Home Lans. We promise to help you customize your home loan to meet your needs.
Understanding Your Payment Objectives
Most homebuyers start with payment objectives. What is your ideal monthly payment? Common sense might tell you, I borrow x amount of dollars and it equals y in payments. The calculation is a little more complicated when getting a mortgage.
Factors like the age of the property will affect your insurance rate and your payment. Your down payment will affect your monthly mortgage insurance payment. How many points you buy down affects the rate you obtain and your monthly payment amount, and there are a dozen other things to consider when determining your monthly payment.
A good mortgage broker will give you options. A great mortgage broker will look at your investment objectives, financial objectives, payment objectives, equity objectives, and cost objectives to create a balanced strategy.
Have a question? Use our
ask an expert portal and get it answered.
Understanding Your Home Equity Objectives
Understanding your home equity objectives is about understanding your future net worth. A lender can lower your payments by offering you a 30 year mortgage, but it comes at a cost. You will pay more interest, build less equity, and have a much different financial position.
For some this trade off is worth it. Sure your future self will have less money, buy you would have spent that time in a bigger house, may be the one you really wanted. For others, the trade off is far from worth it. After 10 years of payments, you have paid a lot of money in interest and very little towards the principle of your loan.
There is no right answer when it comes to understanding your home equity objectives. But, has your broker even discussed equity with you? If not, give us a call,
772-444-6362. The mortgage planning session is free. We just want to make sure everyone has a mortgage strategy and understands their options before buying a home.
Understanding Your Cost Objectives
Every mortgage broker can get you a 0% interest rate at anytime. You just have to have a 100% downpayment. This statement is an obvious play on the relationship between what you invest and the rate you get.
How much you have for a down payment, how much you want to spend on discount points, your home owners insurance policy, and a variety of other variables will affect your costs.
You can't avoid many of these costs. However, getting pre-approved and having a plan before you look at house is the foundation of your 5-start mortgage investment experience.
Understanding Your Tax Objectives
Taxes and tax implications can seriously affect your decisions and your financial position. You may have more than enough money for a down payment. However, that money may be invested in stocks, bonds, and other assets. If you withdraw funds, you may have to pay capital gains taxes or income tax on the earnings. Even if you have the assets available, you may not want to withdraw the funds. Larger interest payments might also offset earnings and help you qualify for child credits, lower tax liabilities, and meet other tax objectives.
An experienced mortgage broker will be able to look over your financial circumstances and objectives to help you determine your ideal mortgage strategy.
Next Steps
The first step is to begin the pre approval process. You can get started by completing the mortgage application, so we can better understand your mortgage objectives. After pre-approval, we will develop a mortgage strategy with you to determine all of your options and opportunities.