Financial Fitness 6

How a Mortgage Check-Up 
Can Jumpstart Your New Year

The New Year often prompts a look at the scale and a visit to the doctor for a physical check-up. But we don’t always think about having a financial check-up––learning where we stand when it comes to our home and financial situation. Guardian Savings Bank’s Senior Loan Officer, Wally Bates, shares tips on how to tailor a “Mortgage Check-Up” to meet your needs.

1. Mortgages Change as Your Life Changes

Bates encourages homeowners to think about the last time they even thought about their mortgage, and to use this year as a time to reassess. Given the current low mortgage rates, Bates asks clients, “Is the rate still the best for the situation you are in? Is the term still applicable to what you want to do?” These aspects can be adjusted through a refinance or other changes that can be made, and talking with a loan officer is the best way to find out what is available for you.

2. Start Where You Are

When considering a mortgage, Bates’ advice to first-timers is to simply get started. Sometimes making that first appointment with a loan officer is the hardest step. Finding out what impacts your credit, how much house you can afford, and other important factors helps you make and achieve financial goals. “Most of us don’t really know how good or bad our credit needs to be to do something,” Bates explains. Consulting with a loan officer is the best first step.

3. Pick a Product Designed for You

Guardian offers traditional loans, along with more rare loans based upon the circumstances, which include consolidating an old mortgage and a new one into a single payment while in transition or a lot loan to build a house. Bates points out that not every loan is right for everyone; it’s important to find a product that fits your unique living and working situation.

4. Benefit From the Area’s “Best Kept Secret”

“The vast majority of my business is repeat and referrals,” Bates says. Word-of-mouth has crowned Guardian second place in originations of loans in the Cincinnati area. This best kept secret is rapidly becoming a fan favorite.

5. Know a Trustworthy Banker

Who you work with makes a difference. Bates is local, knows the area, and believes in dealing forthrightly with his customers. With 13 years of experience, his approach makes navigating the complex world of mortgages and refinancing a little easier. Best of all, he loves his work. “There’s something about hearing that ‘Woohoo!’ when someone is getting that first home,” Bates smiles. “That is a really fun thing.”

Whether you’re a first-time home buyer or have lived in your house for fifty years, a financial check-up with a loan officer can start your 2017 on the right foot.