How To Shop For a Loan
Every week I get a call from someone who would like for me to quote them an interest rate over the phone. While I’m happy to provide this information I know once I do it will be the last time I speak to that person. This is not how you shop for a loan because no matter how many phone numbers you dial there is always one more place you didn’t call. This happened again last week when a man called in looking for “your best rate on a 30-year fixed loan”. Before providing him the information and then wishing him well on his journey I paused and asked him what would happen if the rate I gave him was the best/lowest he found. He reacted like it was a rhetorical question and I guess to the uneducated person it might appear that way. He mumbled something about just wanting to see what rates were doing and went on to say that if I was the lowest he would want to work with me. After digging a little deeper I discovered he was looking to buy a home but was not currently in escrow on any particular property. That’s right, he was calling around trying to find a good loan source based upon the lowest interest rate for a home that doesn’t even exist yet.
This is what I call a teachable moment. I explained to him what it means to lock in an interest rate and when that can happen. I also told him that while loan programs and interest rates are very important parts of the home financing discussion they certainly don’t cover everything and aren’t the core reasons people buy homes. There is much more to be considered.
The bottom line is no matter where you get your home loan it’s gotta be the right fit and working with someone you trust is indispensable. Have you ever noticed that when there is a low level of trust that things move slowly and cost more? Think about the last time you were “sold” something. It’s never a good feeling and it’s that traditional sales model we all know too well. The other side of that coin is when there is a high level of trust things go smoothly, more efficiently, and cost less?
Here at The GreenHouse Group we do things differently. So, what is that difference and what make us better than our competition? As Simon Sinek writes in his book Start With Why, “If you believe what we believe and you believe that the things we can do will help you, then we’re better. If you don’t believe what we believe and you don’t believe the things we can do will help you, then we’re not better”.
To find out the things we are doing to advance our cause and what that means to you click on my name below to send me a quick email with the subject line “Hey Dave, I’d Like To Learn More”. I look forward to an opportunity to connect.
858-863-0264