Benefits Of Working With a Top Michigan Mortgage Lender
There are so many benefits to owning a home. Homeownership provides stable housing, while building equity and wealth. I read the other day that the average homeowner has 40 times the net worth than a renter. I would go a step further and say that owning a home gives one a sense of accomplishment because not everyone can qualify.
Over a long weekend, I sat down and thought: What is my promise to all my clients? I hold to 6 core principles:
Help determine your needs and goals
Walk you through the loan process
Describe current interest rates
Assist with pre-approval
Provide constant updates
Get your loan closed
1. Help determine your needs and goals. Understanding your needs vs wants is the big first step. We all have wants and desires, but the question is—do we actually need all of our wants. Let me give you an example, I want an inground pool for hot summer Michigan days. However, I have a family of three and need a minimum of 3 bedrooms and 1 bath. Do you see the difference? You need to write down your wants vs needs. In a perfect world, you would like to have it all. But we all know there are tradeoffs. Having a clear understanding of wants vs needs will help you during the house-hunting process. After you look at a home, refer back to your list of wants vs needs. This will save you time and let you know right away if a home meets your needs or not. I recommend making this list before looking at a single home.
2. Walk you through the loan process. Not all lenders are created equal. With some lenders, you click a few buttons online and up pops a pre-approval. Other lenders require that you walk into a branch and complete your pre-approval in person. Our lending style is a hybrid of these two approaches. We have a mobile app for those who are technically inclined. Others may wish to visit our 9 branch office locations throughout Michigan, where you are welcome to come in, grab a coffee, and complete your pre-approval in person. We can serve you according to your preferences. We also specialize in helping Michigan first-time homebuyers buy their dream home without any stress. We are able to do this because we take the time to hold your hand every step of the way.
3. Describe current interest rates. We educate you on the market and the current interest rates. It is not enough just to tell you what your interest rate will be. We show you multiple interest rates and loan programs to fit your needs. We explain the WHY and pros and cons for each loan type and interest rate. We will help you explore all available options. We lock rates to prevent you from getting a higher rate.
At other times, we float the rate as if it appears that the market rates are falling. No matter what rate you lock in or close on, we monitor the market and will call you when we see an opportunity to improve your current mortgage. Don’t worry. We have you covered.
4. Assist with pre-approval. We all know if you plan on financing the home of your dreams, you will need to be preapproved. We carefully review your loan application and all your documents. We spend a little more time working on your pre-approval, so when you find a home. We are able to close fast and stress free. After your offer is accepted on your home, you have a purchase agreement and must close by the agreed upon date. During the pre-approval stage, we know what documents we will need to close your loan on time. So, we make sure to gather all important documents upfront before you are under a purchase agreement timeline. Long story short, we are going to take great care of you and make this process easy.
5. Provide constant updates. One of the biggest complaints in the mortgage industry is communication. We understand this and have been trying to change this. You should not have to wonder or worry about the status of your loan or pre-approval. Our platform provides automated, milestones updates. But we feel that automation will never replace the personal human touch. We call this our Tuesday update. While no news is often good news in the mortgage industry, you will still receive a quick Tuesday update and to see if you have any questions. Don’t worry. We will not leave you in the dark!
6. Get your loan closed. This is the most important step! The home you need, the interest rate, loan program, and everything else will not matter if you do not close on your loan. That is why we work so hard to make sure your pre-approval is bulletproof. If we put our name on your pre-approval, the loan should close! Not all lenders take the time and make sure this is a doable loan, but we do! Over the years we have built up such a great Michigan reputation. Many realtors and sellers will accept a Mortgage One pre-approval letter one from an out-of-state lender.
So, rest assured, we have the loan side covered. Once you receive your Mortgage One pre-approval letter, go out and find the home of your dreams!
As a Loan Officer, I am dedicated to helping my clients achieve homeownership. My core principles revolve around understanding their needs, guiding them through the loan process, providing updates, and ensuring a successful loan closing. With my expertise and personalized service, they can confidently embark on their journey to find the home of their dreams. It is an honor to assist my clients in making homeownership a reality.
Tim Tomkowiak
“I am a license loan officer. And I help ordinary people build equity and wealth through home ownership”
