In an environment where mortgage rates are rising, many homebuyers decide that getting the lowest interest rate is the most important factor when choosing a mortgage lender.

For your clients to be successful in choosing a mortgage and building wealth through homeownership, it’s important for them to understand that the lowest interest rate with the wrong mortgage strategy can be much more costly than a competitive rate from an experienced mortgage advisor!

Mortgage planning is not one size fits all. Owning a home should help your clients find financial security in the long term, which is why they need to consider the impact their mortgage will have on your entire financial picture:

  • Maybe it’s better to put less money down, take a higher interest rate, and use the extra cash to pay off high-interest debts.
  • Or, if they know they’ll be staying in the home long-term, it might be better to take a higher rate now and then refinance in the future when rates drop.
  • It may even be better for them to pay extra money to buy down their interest rate permanently or use seller concessions to save even more money in the short term with a 2/1 buydown.

Everyone has a unique situation. At Luminate, our mission is to help homeowners reshape the way they think about their mortgage, finances, and future wealth. The goal should always be to focus on the long-term wealth strategy rather than the short-term mortgage transaction!

I’d love the opportunity to show you how our unique mortgage process can add value to your clients and help them navigate today’s affordability challenges.

We are here and happy to help if you have any questions!

Ready to get started?  We’re here to help!

Tim Erickson
P: (652) 451-2273

Mark Henderson
P: (651) 398-3477