Looking to the Future for Your Client’s Mortgage Strategy
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Regardless of the political environment or what happens overseas, for many consumers, May isa time to think about financial goals that were set at the beginning of the year. Like buying a new home. Orion’s brokers remind home-seekers (who want the best terms and rates on a mortgage) that they shouldn’t wait until peak real-estate season to take control of their credit. Brokers know that a person or family’s history of debt and payments has a direct correlation with their ability and cost to borrow to finance a home.

Brokers remind your clients that building credit doesn’t happen overnight. They should check their credit long before applying for a mortgage, ideally at least three months beforehand, to avoid any surprises down the road. That way, if their credit needs a boost, a good broker still has time to help the client improve things.
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Helping Clients Turn Homeownership Goals Into Reality
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Here are a few steps brokers often advise doing to help clients afford their dream home. Set a budget. Put money away for closing costs, a down payment, and any unexpected home-buying expenses. Keep in mind that putting down a higher down payment will usually result in a better interest rate. Become pre-approved: Knowing how big a loan you are eligible to receive before house-hunting can help set realistic parameters for your search so you can find a home in your budget.
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Orion’s experienced brokers help clients become “credit smart.” Understanding credit basics is the key to building good credit. There are a lot of trustworthy credit resources online, including a large library available at TransUnion.com that is user friendly. And if your client froze their credit in the past, which can be a wise move for many until they need credit, they will need to lift their credit freeze before applying for a mortgage. Keep in mind that each of the three bureaus needs to be contacted separately. This is yet another way that a broker can help.

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Lastly, brokers remind clients that the credit is only one part of the mortgage process, and Orion’s AEs are ideally situated to help your borrowers through the entire procedure, from preliminary discussions through closing and beyond to the submission of monthly payments. The winter is over, we’re well into spring, and regardless of outside factors, families still want to own a home or help in improving their monthly cash flow picture.

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Ask an Orion AE, we’re here to help!