A Loan Profile Before a Mortgage Loan and Why

Why a Loan Profile?
Having a background in the mortgage industry I will tell you for the most part borrowers are sold a loan product that has the most commission built into it for the broker, lender, etc. Little thought goes into what is right for the borrower at the time of the loan or any consideration for the borrower’s future plans.

Let’s play out one of many examples; you currently have a FICO score on your credit of mid 679, which is not that bad but let’s say your lenders cutoff for the nice interest rate is 680 which is the norm right now. Although you are just one point away from 680 you just got hit 1 to 1.5% of the loan amount for that score. This will come out of your pocket or be rolled into the loan as a higher interest rate. Now you are paying thousands in out of pocket cost or tens of thousands over the life of a loan due to a higher rate, all this for one FICO score point. I wish I could say that your broker, lender, etc. would say to you; “let’s take the time needed to raise your score” but those words will not leave their lips.

What we do at Marsh Robert is look and the big picture, today and your future plans for the best loan product to fit your needs. We review your credit and see where we can raise your score if needed and work with you to get those score ups. I need to point out we are not doing the loan for you (we are not a lender) we are prepping your status for the best loan opportunity. We do not receive a commission so we are not trying to sell you something for a big payout. The Marsh Robert, Mortgage Profile is a flat fee product and you receive a wonderful detailed report. Whether your goal is short-term or long, primary home or investment you need a game plan. The point is little things before you get into the loan process can save tens of thousands of dollars over the term or have less out of pocket cost. It is important that a loan profile is done 30 days but I would prefer 90 days before you get started shopping for a loan. Please remember this is the biggest investment most people make and it has to be done right.

To Learn more and our Loan Profile Program give me a call, drop me an email or better yet visit [http://www.marshrobert.com/loanmodificationpage.html] complete the online form and let me earn your business