Mike is licensed in Illinois and Missouri.
While working in the St. Louis mortgage business since 2002, I have witnessed many changes in the market as well as the industry. The days when a client with a strong credit score could just show up at closing with a cashier’s check, are all but a thing of the past. While the required documentation these days is greater than it was years ago, lenders do not require your finger prints, DNA, or your First Born; contrary to what some people may believe.
A major part of my job is to make sure everyone has a realistic idea of the mortgage process, and to assure my clients are using the correct mortgage product for their individual needs. Believe it or not, a lower rate does not always mean it’s the best deal for you. In the mortgage business there is a sliding scale between rates and fees, no matter what lender you use. The approach I take with my clients is much more of a long-term advisory role, not a “one-n-done” method. I like to pull the curtain back and show my clients “the math” of their options. Only then can someone really determine which loan is best for their situation. By showing someone “the math”, it’s much easier for them to make a financial decision based on logic and numbers, verses fear and emotion. That’s the nice thing about math, no matter where you are from or what language speak math is universal. Either the numbers make sense or they don’t.
We will discuss the tax advantages to having a mortgage as well as your credit scores and how they could be improved. I will cover “the math” with you to see if it makes sense for you to pay extra towards your mortgage balance (usually not). If a bigger down payment is the best use of your money is another discussion we will have. Once you are comfortable with YOUR numbers, you will be confident in YOUR mortgage decision. I always try to convey clear expectations and clear advice, for a stress-free mortgage experience. If those things are done well, achieving my ultimate goal is much easier… To become “Your Lender for Life.”