The mortgage planning relationship with a Certified Mortgage Planning Specialist is about you:
–Receiving valuable financial advice and guidance that can literally save you thousands of dollars.
This is a relationship, not just a transaction. As such, it requires a defined system of accountability in order for it to work effectively. Here is a brief overview of the essential steps involved in mortgage planning:
Needs Assessment: Clearly defining the clients personal values and financial goals, not just those relating to real estate. Gain a true understanding of what is motivating a client.
Credit Review: During this process, we review the credit report and determine how the clients scores may be improved. Saving significant amounts of money over time.
Plan Development: This step includes developing a strategy that will help achieve the clients goals. In addition, the plan may address becoming debt free, planning for their children’s college education, establishing an emergency savings account, creating more cash flow and financial independence.
Implementation: This point of the process, a client may or may not proceed with a mortgage, depending on what their current needs are. A client may be referred to to other qualified advisor’s such as CPAs, CFPs, Realtors, Attorneys, Insurance Professionals, etc.
Plan Maintenance through an Annual Mortgage and Equity Management Review. During this review, the mortgage planner can adjust recommendations, if needed, as the clients life changes. Ongoing maintenance helps to increase the probability of the client’s financial success. Most often, this process involves periodic assessment of: