Talk to the Loan Officer First

The most important tip I can give anyone is to always get a hold of your loan officer before you go under contract. It sounds obvious, but it’s not obvious, right? Sometimes people do that, but I see so many people looking for a police home loan that don’t.

I suggest speaking to a loan officer at least two months in advance of buying a home. Whether that be at a Chicago police credit union, a St. Louis police credit union, a bank in Guam, or Police Mortgage, please speak to a professional first. Obviously, we would love for Police Mortgage to be your first conversation. But definitely speak with a loan officer at the beginning of your home-buying process somewhere.

This is especially true if you are a first-time home buyer. In this case you likely don’t know what to expect. Sure, there’s lots of information online, but I still think that this is an industry, as much as it’s driven by technology, it’s still largely driven by people.

I don’t think that this is an industry that’s ever going to just forget about the human element. Maybe you can get an auto loan purely online without talking to a human being, but mortgages are still made by people.

So, I still think it’s very important to come in and talk to somebody or have a phone conversation. We are privileged at Police Mortgage when a police officer or first responder comes in to talk with us.

We will give you an accurate assessment of what you qualify for.  We’ll also drill down into the scenarios of that qualification because a single-family home and a condo unit may paint a different picture in terms of qualification due to association fees, location, and a number of other factors.

We also talk about homeowners insurance with our clients since that will effect qualification levels. Homeowners insurance has gone through the roof.

We’re going to explain a lot of little aspects as they pertain to home loans for police because those usually slip through the cracks when you speak with inexperienced loan officers. When you speak to someone other than Police Mortgage, what happens more often than we would like to admit is somebody buys a house, they’re on their contract to get the loan approved, and property taxes or insurance premiums are much more than they expected which creates a problem.

We try to get ahead of that by discussing all costs during the pre-approval process. The are other things to understand in addition to the interest rate.

That’s why our conversations are more of a financial counseling discussion than just a preparation meeting. We get incredibly good results from that approach. This is going to be the biggest financial transaction that most people make in their lifetime.  So, when it comes to police home loans, talk to a loan officer first. We would be honored if you choose us at Police Mortgage.

Police Mortgage specializes in conventional mortgages, purchase money transactions, FHA loans, and VA loans. Led by founder and CEO John Aretos, Police Mortgage is known and respected for providing clients with exceptional service, customized terms, quick and easy closings, and low money down options. To learn more about Police Mortgage, go to www.policemortgage.com  or call 312-499-8878.