Buying a home is an exciting, and sometimes overwhelming, financial and personal milestone.  For seasoning homebuyers as well as first-time homebuyers, there are always questions that come up along the way.  In those situations, quite often I see buyers not understanding whom to ask what questions.  For example, some buyers will talk to their Realtor about financing instead of talking to their Mortgage Loan Officer.  And vice versa, sometimes homebuyers will ask me when I pre-approve them for a mortgage if I know where to find the home they’re looking for….

We all want to help, and sometimes we’ll go to great lengths to assist our customers.  As a former Realtor who once sold a lot of homes every year and now having been a mortgage loan officer for several years, I know enough about both sides to know which person does what.  I also know there are a lot of people who – when just trying to be helpful – give advice and suggestions to a customer when they don’t know enough about the topic to give the best advice.  It is not uncommon that homebuyers ask the wrong person for guidance on a topic when that person, while being amazing at what they do, is not an expert in the other field to be able to answer the question.  None of us ever want to tell a customer that we cannot help with a question when they have one.  We all want to quickly provide them with peace of mind – and that’s great – but we all need to know our own limits.

When buyers act on the wrong advice, they often end up with problems or they miss out on an opportunity that could have really benefited them, all because the person they talked to didn’t have the expertise to advise them on the topic.

So today, I want to help clear up some of that confusion for homebuyers!

This topic is another reason why it’s so important to have an experienced, knowledgeable team of professionals working together to make your purchase smooth, secure, and successful.  A good Realtor or a good Mortgage Loan Officer will never shy away from telling you what they think might be the answer but telling you to contact the other person for expertise on that topic.  Understanding each professional’s role can help you feel confident throughout the process as well as put you in the best situation for yourself.

Here’s a breakdown of the key players you will work with when buying a home: the Mortgage Loan Officer and the Realtor.

The Mortgage Loan Officer: Your Financing Partner

As a mortgage loan officer, my job is to help you secure the financing you need to purchase your home.  Think of me as your guide through the financial side of the transaction.

What I do:

• Help you understand your loan options and what best fits your comfort level.
• Provide you with confidence and knowledge of what you can do by reviewing your credit, income, and assets.
• Explain interest rates, loan terms, monthly payment scenarios, as well as reviewing the funds you will need to close on your new home.
• Walk you through paperwork and keep the loan process moving.
• Communicate with underwriters and ensure you meet all loan requirements for closing.
• Have the documents prepared and sent to the Title Company where the closing will take place.

When to contact me:  Before you start house hunting. a pre-approval not only tells you how much you can afford but also shows you the numbers of the different scenarios.  Just because we qualify to buy at a higher price does not mean that we should buy more than we need.  Equally important, a pre-approval shows sellers that you’re a serious, qualified buyer. From getting pre-approved to closing and beyond, I’m always glad to help with any questions or needs you may have.

Why it matters: Without financing, most home purchases can’t move forward. Having the right loan officer in your corner ensures you’re not only approved but also getting a loan that’s the right fit for your long-term goals.

Having the right professional is critical because just as you might do your job at work your way, perhaps others in the same role do it differently.  Each Mortgage Loan Officer and each Realtor has their own, unique approach to how they do their job.  Some provide the bare minimum to get through the transaction, while others – like me – want to provide you enough value and earn enough of your trust that you will be a loyal customer for life!

The Realtor: Your Market Expert

A realtor is your advocate in finding and negotiating for the right property. While I focus on the financing, your realtor focuses on the house hunt and contract.  They are the ones who will work on your behalf to talk with the seller’s agent to gain the knowledge that will help you present a winning offer on the dream home you just fell in love with.  I can tell you from experience that their job is both an Art and a Science!

What they do:

• Provide market insights and pricing guidance.
• Provide you with access to enter and view the homes you are interested in.
• Negotiate the offer and counteroffers on your behalf.
• Coordinate inspections and make sure deadlines are met.
• And make sure that you get your keys to your home after closing.

When to contact them:  Once you’ve been pre-approved by your loan officer, with a budget in hand, you can show a strong Realtor that you are able to buy and that you are serious.  Then the Realtor can focus on homes that truly fit your price range and satisfies your needs and wants. Once under contract, your realtor will know how to navigate the option period, inspections, and, if necessary, renegotiating any contract terms.

Why it matters: Your realtor ensures you don’t overpay, miss key details, or get stuck with a home that doesn’t meet your needs.

How We Work Together

Think of this process as a team sport:

• Your realtor finds the home and negotiates the deal and keeps you on track in buying the home.
• I, as your loan officer, provide the financing in a very strategic way that maximizes your financial future.  After all, buying a home is often the largest investments we make in our lives!

When you have the right professionals who work together seamlessly, you can move from house hunting to homeownership without unnecessary stress.

Besides, buying a home is super exciting – it should be FUN!!

Ready to Get Started?

Buying a home doesn’t have to be overwhelming when you understand who’s on your team and what each professional brings to the table. My role as a mortgage loan officer is not only to secure your financing but also to be a resource and guide throughout the entire process.  As a team, we’ll help you achieve your dream of homeownership smoothly and successfully. If you’re ready to buy your dream home, call me today at (214) 542-4095 or email Rob@TeamRobHomeLoans.com to get pre-approved.  I am always available – nights and weekends included!