Why You Don’t Want Just a Rate Quote

When a bank or mortgage company provides a rate quote based on minimal information, they often quote an attractive rate without fully assessing if you qualify for the program. Whether this is just them being “hopeful” or an intentional bait and switch, it starts you off with the wrong expectations and can create financial distress.

If you get inaccurate information when determining how much house you can afford, you can get in over your head when your payments end up being higher than originally estimated. Or, you get caught short on closing costs because it required more out of pocket to get that attractive rate you were quoted.

The most important part of mortgage planning is determining how much how you can really afford based on your available funds for down payment and a comfortable monthly payment.

That is why Community Mortgage takes a different approach to working with clients. Specifically, we:

  • Take the time to understand your overall financial and life situation before making recommendations
  • Do a thorough review of your documentation to protect you from making commitments you cannot keep and ensure that we only offer loan options for which you can be approved.
  • Present multiple loan options. While we narrow down your options and educate you on what could a be good fit, we don’t know everything about your situation and preferences. So, the final decision is yours.

We also take the time to get to know clients and their goals, because buying a home is a big part of people’s lives and we appreciate that people put their trust in our hands. It is very rewarding to get to know people’s stories – from newlyweds to veterans – and we take it seriously, because each story matters.