What’s in a name? Depends on what you’re talking about. In the last two decades of helping first time homebuyers, move-up buyers, homeowners to refinance, empty nesters to downsize and people buying second homes, I’ve noticed that some “names” make people nervous. I’m talking about the terminology associated with getting a mortgage…to a lot of people, these terms sound terminal.
It’s pretty common among all walks of life to feel uneasy about one’s financial situation and status – especially when revealing it. There are countless interviews with millionaires who are “still afraid they don’t have enough.” Millionaire or not, we all need a roof over our heads and most people consider home ownership at some point. For the majority, that requires going through the mortgage process. Anyone who has ever gotten a mortgage – particularly first time homebuyers – has likely felt a little twinge of uneasiness when experiencing one or more of the steps along the way. What are these intimidating terms that tweak insecurities?
- Credit Report (Sounds like the adult version of the “naughty or nice evaluation.”)
- Qualification (Who doesn’t feel inadequate once in a while?!!)
- Verification (Feels like they’re checking an alibi!)
- Appraisal (Granted, it’s the property under scrutiny, but getting sized up feels intimidating!)
- Approval (We’re in or we’re out…yikes!)
It’s obvious the public relations departments of the early mortgage companies didn’t come up with the wording that describes the mortgage process. I can’t change the mortgage process or rename the steps, but my team and I can help make the experience less intimidating – with the goal for it to be memorable in a GOOD way.
We only buy our first homes once – so the best way to get prepared for that milestone is to attend our upcoming First Time Home Buyer Class . We take the mystery and the fear out of the mortgage process. Our next First Time Home Buyer Class is Thursday, June 21st from 6:30-8PM. You can register for the June First Time Home Buyer Class Now, or call 952-808-2810 to register.
If you need to start the pre-approval process for a refinance or other mortgage, you can start now by completing our online pre-qualification worksheet and we’ll get in touch to direct you through the next steps.
Whether you’re a first time homebuyer, a homeowner wondering if a refinance is possible and beneficial for you or anywhere else on the homeownership spectrum, my team and I are here to help you decipher the terminology so your hopes and stress level don’t get terminal.
Watch this video for information on the upcoming First Time Home Buyer Class
MN First Time Home Buyer Class
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