“Is now the right time to buy?” is a question you’ve likely heard, if-not asked for yourself, about home buying in the just past three years.
The vast majority of answers to this question tend to boil down into a couple major camps:
- Not yet.
Today our feature presenter, Jeremy Shaffer of Premier Bank, discussed some of the basic individual factors that might help answer this question, as well as the benefits of working with a committed and experienced loan officer to help you get to ‘Yes’ if not there already.
First, to distinguish Jeremy’s team at Premier Bank from the competition:
Large-scale competitors have enormous marketing budgets that bring in clients at a high cost-per-acquisition. They are then incentivized to move through clients as quickly as possible, operating as corporate machines that aren’t modeled to provide heavily-personalized service to their clientele. Much of their talent moves through the company quickly—most out and some onto higher roles—with few available to work deeply on special client needs, over an extended period, or for return and referral business.
As part of a local branch of a regional bank, Jeremy’s team of experienced mortgage professionals will work closely with you as they already do with many others in your Ann Arbor area community. They know the area’s trends, have relationships with hundreds of local business professionals and home owners, and can consult with you on whether now is the right time—or how to get there if not yet. They have dozens of collective years of experience with shared expertise in Ann Arbor, Dexter, Pittsfield, Saline, Dixboro/Superior Twp, Ypsilanti, and other surrounding communities. In contrast to the quick-funnel model of the large companies, Jeremy mentioned that he’s been working for two years with one client who is still lining up the right criteria to finally pull the trigger.
There are some common misconceptions about talking to a mortgage loan officer that Jeremy also highlighted:
- The idea that it’s a very arduous process.
- That you need to have everything in line and on-hand to set an appointment.
- That without many thousands already saved, you shouldn’t speak to one.
To these misconceptions:
- The process can be as simple as a consultation and a few closing follow-ups with the right documentation provided quickly after the first meeting.
- If you don’t know where to begin—it’s still great to have the conversation. You can retrieve the needed information after your consultation, and Jeremy’s team will get you on the right path.
- If you’re worried about your ability to afford the home you want, his team will helpfully let you know what you would qualify for now, as well as measures you may be able to take to get into your desired home within a few years.
While many factors in your own life dictate if purchasing a home is the right move for you—over the historical long term housing has been an asset that’s grown consistently in value and has produced immense private wealth, despite localized or short-lived crashes. For the typical family, home ownership is the surest foothold in middle class living and achieving eventual wealth.
Talk to Jeremy’s team today about whether now is the right time for you, or how to get there otherwise.
We’re off March 29 for Spring Break, but are here each Wednesday at 7am otherwise.