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Posted on August 27, 2008 by Frank Collins | Posted under Mortgages
Getting the Most Value from Your Mortgage
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With the explosion of mortgage loan programs such as short-term fixed variable rate mortgages and interest-only mortgage loans, homeowners and buyers now have available many mortgage programs to select from. How to pick between one loan program and the other? While conventional loan officers customarily only assist borrower's to select loans with the lowest interest rate or monthly payment, an increasing number of Mortgage Planners are expanding the loan officer's job to actively look out for the borrower's long-term financial objectives are met. "It's suffice to say that most home-owners and buyers as well as loan agents have been programmed to accept that a mortgage is merely a debt, versus it being a useful financial tool,". A mortgage can be used as a means to help shape the financial well-being and wealth of borrowers who are retiring down the road. Many borrowers end up much poorer without any planning. How much poorer? It is usually $500,000 less and it can still be achieved, if you are strongly considering a mortgage for purchasing a home. Fortunately for homebuyers, the mortgage industry is having widespread changes compelled by the increasing demand for mortgage planning, and homebuyers being the leading recipients. An experienced mortgage planner is a loan officer who analyzes a borrower's mortgage choices to achieve an overall financial goal. It is needed too since conventional knowledge on mortgage loan choices is based on formulas from over 100 years ago. Mortgage planning takes many scenarios into consideration like people who get long term fixed rate financing and suddenly lose their job and can't pay their mortgage due to being unemployed. Mortgage planning evaluates many other chance happenings for consideration and is a new way of securing a mortgage that's right for an individual. Mortgage Planning simply involves the low risk procedures that banks and commercial companies use to properly set up and structure their debt and investing strategies. With mortgage planning, loan agents can help borrowers leverage and enhance their debt in order to get the best tax advantages, monthly liquidity, and yield the highest possible return on their dollar. By using a mortgage planner, borrowers are being rewarded handsomely for the loan officer's long term financial advice and expertise in the industry. About The Author: Frank Collins is an avid investor in real estate and contributor to Loanshoppers a long established loan site and FHA Mortgage Lender website in your area. |
Tags: MORTGAGE, JUMBO MORTGAGE, FHA MORTGAGE LOAN, LENDER, SECOND MORTAGE. LINE OF CREDIT, EQUITY LINE, REFINANCING
