ASK THE REAL ESTATE PROFESSIONALS
ASK THE REAL ESTATE
PROFESSIONALS:
COMMON MORTGAGE
QUESTIONS
KEVIN STEWART & JESSICA ZIELKE
AS A REAL ESTATE BROKERAGE in an
ever-changing economy and market, we get
many questions regarding financing and
home buying. We asked broker/owner Kevin
Stewart and senior buyer agent Jessica
Zielke, to answer some of the most-pressing
questions.
Q: WHAT ARE THE TOP TWO QUESTIONS
BUYERS BRING YOU WHEN TALKING
ABOUT FINANCING, AND HOW DO YOU
ANSWER THEM?
A: Most buyers want to know what their
options are with financing. Buyers have
information at their fingertips, and by the
time they’re talking to me, they likely have
[at] the very least looked quickly in regards
to incentives that banks or lenders are
offering. That’s why choosing a mortgage
broker is perfect for any buyer. When the
buyer asks “What options do I have?”, I can
share with them how the mortgage broker is
going to shop for the best type of financing
and payment structure to meet their needs.
Second, they want to know how they can
maximize their budget. A great mortgage
broker, an experienced mortgage broker,
should ask the buyer what their budget is,
not what they’re approved to spend. This
is key because the subsequent follow-up
questions should be about this specific
buyer: Are they purchasing for the first time?
Are they purchasing in a rural community?
These follow-up questions may seem
insignificant, but to the buyer, it could mean
a Michigan State Housing Development
Authority or Rural Development loan, which
will assist the buyer with closing costs.
Mortgage broker becomes mortgage hero!
Q: WHAT IS THE PRIMARY PIECE OF
ADVICE YOU WOULD GIVE TO A BUYER
WHEN THEY ARE THINKING ABOUT
SHOPPING FOR A MORTGAGE BROKER?
A: Get on the phone with them! Being
able to quickly get ahold of the professional
walking you through your mortgage is key.
If you cannot get them on the phone, alarm
bells should be sounding. If they will not take
the time to answer your questions, move on
to the next one. You want an experienced
28
professional and not a voice recording.
The Internet chat or text is not the person
you want to trust with the most expensive
purchase you will likely ever make. You
need to trust the person who is putting your
finances in the best framework for the next
15 to 30 years.
As a company, our mission is to affect
change in our community through service
and a genuine love for others. Part of that
means referring our clients to the best
companies we know and trust. If you have
more questions about real estate, the
market, or buying/selling a home, please
look us up at stewartteam.com or give us a
call at 248-759-5474.