 So, what will you get with the Mortgage Assurance Program?
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A full Pre-application Interview
Knowing what to say and what not to say can save you money
at application time. We will review your information with you before you speak with your lender to make sure you are "putting your best foot forward." Making sure that you give the loan officer all of the information they need to come back with the best deal will save time and money. To help you remember, we give you a free 40 point checklist to use when you interact with the lender to make sure you cover everything.
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Mid Application Review
This is the most pivotal point of the negotiation process. This is where the lender has evaluated your application and is getting back to you with their proposal or quote. Once you receive this information you need to evaluate the feasibility of what they are offering, the closing costs, the interest rates and the type of program they have offered to you. Since they are the ones offering the "deal" it is very unlikely that you will get an unbiased opinion to those questions from them.
This is where we help you the most. We point out alternative programs, different rate scenarios and evaluate their closing costs from top to bottom with you. In short, we give you all of the information and advice that you need to to make sure your deal closes economically and on time. When you call your lender back you will have the ammunition you need to get your very best deal with the least amount of friction. How cool is that?
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Pre Closing Review
We will evaluate your closing documents thoroughly before you close to ensure they are accurate and are the figures that you were promised. If not, we point out the mistakes and explain them thoroughly so that you can get the deal straightened out before you close. Most lenders are fair and honest and do not intentionally raise rates or closing costs right before closing, however, it does happen. When it does happen, it's usually not from malicious intent but from inexperience and poor mortgage management, and you shouldn't have to pay for that.
The loan officer's job is to accent the positives and down-play the negatives, which keeps their real estate agent happy. There are a lot of possible pitfalls that need to be discussed and planned for ahead of time. Finding out about them two days before closing, when all of your belongings are in a box, is the wrong time. Having a seasoned professional on your side is the best way to prevent this from happening.
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