How to Find Financial Consultants You Trust

Video Transcript

"Okay, so how can I get people like you to trust? Okay, to get a mortgage broker or banker and be comfortable with them and trust them. There is no one hundred percent method because unfortunately it is all up to the individual but there are warning signs and red flags that will give you some indication of their reputable nature. First thing you do is ask them how am I evaluated? We’ve gone over these four main areas, okay, you do know the basics. Ask them, don’t tell them you know and see what they tell you to see if they try to mislead you with that or not. Second ask them on their fees, okay. When you ask our fees ask their origination and then ask if they make anything on the back end or yield spread premium. Say you don’t mind them making a living but you’d like to know upfront what it is, okay. And then third is that you have to be comfortable with them, don’t go to the smoothest talking guy, go to the person that will sit down with you and walk you through everything and really teach you what is going on. This is a process that you should know the basis of, the basics of because a lot of times it is going to be the largest commitment you are going to undertake in your life. “It’s for thirty years” Exactly and it’s with hundreds of thousands, if not millions of dollars that you’re going to be paying. You should know how it works and you should be with somebody that will take the time to sit down and teach you what is going on rather than just having you sign papers and say yes, okay. So to get started the best thing is to talk with some mortgage brokers or go to your local bank and speak with them, they’ll get the basic information for you and fill out a preliminary loan application and that will help get the ball rolling so the evaluations can start. "