The Mortgage Planning Process

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.
– Trusting a professional who is committed, qualified and equipped to deliver what they promise.
– Experiencing a "concierge" level of service when you are in the market to buy a home, refinance your mortgage or make cash flow changes to enhance your lifestyle.
– Implementing a defined financial plan of action in helping you achieve your life goals and dreams.
– Maintaining an ongoing high trust relationship with a team of financial advisor’s who can help you make necessary changes in your debt, cash flow and home equity planning strategies.

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.
Historical Analysis: Creating a home ownership history.  Does the client move or refinance often? 

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:
– Client’s fluctuating cash flow needs.
– Changing market interest rates and mortgage strategies.
– Income and career alterations.
– Family changes, including children’s and elderly parents financial needs.
– How client’s real estate equity and investments are preforming from both a cash-flow and "internal rate of return" perspective.