Here’s Why You Need to Choose the Right Mortgage Expert

A mortgage expert is key to guide you through the loan process.  A home loan is not something to take lightly. It is a major financial agreement between you and your lender, and you need to make sure you understand what you are committing to when making this major agreement. When it’s time to consider a new home loan, you may be surprised at just how complicated the process is. Approval can be tricky, but working with a mortgage expert can help you navigate the process. Here are five reasons why you need a mortgage expert on your side.

1. Reduce the Risk of Getting Declined

As many as 40% of home loan applications are never funded. Do you want to fall into this trap? Mortgage experts know how to evaluate your financial situation, help you pinpoint issues that could cause your application to be denied, and offer guidance to help increase your chances of getting approved.  Even with damaged credit or other problems, you can get a home loan when you work with the right expert.

2. Home Loans Are Complicated

Home loan applications may seem simple at the outset, but the application process is quite complex. Mortgage experts understand this process and can deal with many situations that can arise to help ensure your application goes through the process as seamlessly as possible.

3. Lending Policies Vary

Each bank or lending institution has its own lending policies. Understanding each of these is not something the average home buyer can do, but a mortgage expert works with loans daily and knows all the ins and outs of the lending policies. This is particularly important if you have a non-standard type of loan, such as a loan in trust or a construction loan, or if you qualify for unique lending programs and grants.

4. Get Personalized Mortgage Service

Working with a mortgage specialist gives you personalized attention as you go through the mortgage process. The mortgage expert will get to know you and your goals, and also help you understand the various products that are currently available in the market. This helps increase the chances of getting you a perfect fit.

5. Get Timely Answers

Finally, when you work with a mortgage expert, you will get timely answers to your most pressing mortgage questions. This can help you make wise decisions, especially on issues where time is critical.

When you apply for a mortgage, you need to have confidence that you are making the best possible decision. Only with the help of a mortgage expert can you have this confidence. In Maryland, reach out to mortgage expert Drew Gilmartin with First Home Mortgage to learn more about your borrowing options.

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