I got an email from a client today and wanted to share their feelings with you.  This is a great example of how many people feel these days and I think it is a great learning tool to use for anyone else out there that feels the same way and is afraid to say it.

Here is an excerpt from the email:

“I was talking with some friends about housing costs and fees and got completely confused. They told me to check with you and to thoroughly understand them.

I’m sure we probably went over this during our meeting, but could you please provide the following information to us in writing:

- A list of all the fees/costs that we should expect and an explanation of each fee.
  Your Mortgage Professional should always get you this information before any signing happens

- What is a good faith estimate and will we be getting one?

This document shows all the estimated fees you will pay to get the loan for the property you are purchasing

- What are “points”?
 Points are percentage points ex. 1.00% that are added to your fees to get the rate you want.  This should be discussed between you and your loan agent before you lock your rate.

Do you receive commission from the bank where we get our loan?
Yes and no..  It is a decision you make with your loan agent and all loan agents must disclose any fees paid to them by the lender.

- You said you charge a fee. Could you put in writing the options on how we can pay this charge?
Yes.  It should be with your application.

- Are there other things that we should be aware of that I haven’t asked?
Yes.  Just ask everything that comes to mind

 Also, if we decide to go with another agent, when would it be too late for us to do so.

You should work with someone you trust and feel comfortable.  It is never a good idea to switch once you have made your decision.  It can affect your transaction and you could potentially lose your property.

And do you charge a fee if we do decide to go with someone else?
No.  No one should charge a fee for that. Although, keep in mind that there is a lot of work put into filling out applications and meeting with clients.  Please make sure you want to work with this professional before you put them to work.  You wouldn’t want your boss to put you to work without pay, would you?

Sorry for all the questions, but after I spoke with some friends they got me all paranoid. Thanks for your time!”

Paranoid, Paranoid Paranoid, that is what happens when you over think things and ask to many opinions.  Trust your gut!

These are very common questions and concerns even after a meeting with a Mortgage Professional.  My best piece of advice is to work with a Mortgage Professional you Trust and are comfortable with.   If they were referred to you by a family member, friend or another professional and you trust the person who referred them to you, you should trust them.  Also, ALL BANKS charge fees and ALL LOAN AGENTS charge a fee.   It just depends on how the professional packages the loan for the client.  YOU HAVE A CHOICE.  Work with your professional and ask questions!!!  If they are good, they will work with you and answer all of your questions, no matter what.

NOW GO GET THAT HOME!!!!

 Call me with any questions.  I am always here.

The lender with Your Best Interest in Mind.