20% of People Get Denied for Mortgages

Woman Fretting Over DebtThe BorrowSmart Advantage Changes That.

While owning a house is the American Dream for many, it can turn into a nightmare. Especially if you don’t understand the impact that financing a house can have on your financial future. Contrary to popular belief, a mortgage isn’t something you just take off the shelf and put in your basket in the checkout line at Walmart. Big problems can arise when you try to go it alone or when you select a mortgage based on advice from well-meaning family, friends, and work associates. A mortgage can be a very effective tool when properly integrated into a comprehensive financial strategy and there is no “one size fits all” mortgage. Everybody has different goals and objectives and the mortgage you select should enhance your specific goals and objectives.

Whether you are currently a homeowner or you aspire to be a homeowner, your financing should always be based on your age, experience, risk tolerance, and other factors. Consideration should be given to:

  • a potential change in income
  • a change in tax status
  • a change in marital status
  • the birth of a baby
  • whether or not your house is a starter house
  • whether you anticipate receiving an inheritance
  • and any other event that could impact your financing decisions.

Important consideration should be given to other areas in your financial profile such as:

  • emergency cash on hand
  • outstanding consumer debt
  • college savings
  • transportation needs for growing kids
  • retirement savings
  • and life, health, disability, and long-term care insurance

Financing your house without considering how your mortgage interplays with these areas of your financial profile can be a recipe for disaster because your mortgage payment will most definitely affect your monthly cash flow and your ability to fund other financial priorities.

That is why I created The BorrowSmart Advantage™, a 5-step process that helps current and future homeowners alike integrate the mortgage they select into their overall long and short-term financial and investment goals to achieve the goal of homeownership in the most efficient and effective way possible with the objectives of minimizing interest expense, maximizing tax benefits, and increasing cash flow.

To put The BorrowSmart Advantage™ to work for you contact us at (619)994-1110 or e-mail us at Support@YourFavoriteLender.com and schedule a time to experience The Discovery Conversation™ and The Capacity Clarifier™ (a $500 value).