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Thinking about a Residential, Farm or Commercial Business Mortgage in Invercargill? Sit Down with a Wealth Investment Adviser before You Go to a Bank or Lender
There are a lot of different mistakes you can make when it comes to securing a mortgage loan. You can overextend yourself by putting too much money down or getting involved with a real estate investment where you can't handle the monthly payments. You can forget to think about other ongoing expenses that come with owning a house or property, beyond just the mortgage bills. You can dive into an interest-only mortgage and fail to plan for when the loan stops being interest-only. Whether you are looking for a residential mortgage or business mortgage in Invercargill, the road towards real estate ownership is ridden with potential pitfalls.
Most of these mistakes, though, are well-documented. If you search 'biggest mortgage mistakes' online, you will find multiple articles about how to avoid the examples above. Less well-documented, though, is the mistake of going to a banker or lender first for mortgage advice or assistance, rather than sitting down with a wealth investment adviser.
Get Honest, Candid Advice Rather Than a Product
Think of it this way: you are in the market for a new home and want to apply for a residential mortgage in Invercargill. The issue is that you aren't sure how much house you can afford, either regarding down payments or overall purchase price. You want someone who can look at your finances and let you know what you can handle regarding down payment, monthly mortgage payments and more. Who do you trust?
Many home buyers assume that the answer is the bank. After all, bankers or lenders are the ones who are going to give you a loan. Surely they wouldn't saddle you with a mortgage that you can't afford.
Here's the thing, though: when you go to a banker or lender, what that person is doing first and foremost is selling a product. They are selling their bank's mortgage lending services. Like any other salesperson, then, they are eager to upsell you, which means that they might push you towards a home that is more than you can reasonably afford. How come? Because bigger mortgage loans earn banks more in interest over time.
This same idea applies no matter what type of mortgage you are pursuing, be it a commercial mortgage in Gore or a farm mortgage in Invercargill. The lenders are product providers rather than wealth creators. They will focus more on selling their product and making their institution lots of money than they will on setting you up for a prosperous, happy future.
Call WealthCreators for Residential, Farm or Commercial Mortgage Advice in Invercargill
At WealthCreators Ltd., we are not bankers or lenders. We are not trying to sell you our mortgage services or push you to overextend yourself so that we make more money. Instead, we are wealth investment advisers. Our goal is to help you make plans so that you can make money, save money, acquire assets, and build your overall wealth for the future. So, if you need help deciding what kind of mortgage you need or how much you can afford, we are the people to help you.
Are you interested in chatting with WealthCreators about your farm, residential or business mortgage in Invercargill? Complete our contact form to get in touch.