Do you know what a mortgage assistant is? Maybe you have heard of them but not really. If you are a first-time homebuyer or a current homeowner, chances are you have heard of mortgage assistants. But what exactly are they and how do they help those who are purchasing a new home? In this article, we’ll take a quick look at mortgage assistants and some of the important things you should know before hiring one to help you with your purchase.
A mortgage assistant is a person who assists home buyers during the purchase process. Typically, this individual works in the same capacity as an agent, representing both the seller and the buyer of the property. They are used to help negotiate the purchase price of the home, as well as any closing costs and various paperwork.
So, what duties does a mortgage assistant perform? They typically just do administrative tasks for the home buyer during the transaction. They prepare and maintain purchase agreements, perform credit checks on the buyer and seller, and check the title and tax papers. They can also help in the negotiation process, especially if you’re not sure about something. As a result, you can be sure that your transaction will go smoothly and you won’t encounter any snags along the way.
While you can typically expect to pay about $10 an hour for private money lenders many mortgage assistants will also help you with legal matters, such as setting up various financing methods and reviewing documents relating to your home sale.
So, now that you’ve decided to hire one, where should you find one? One option is to look online. There are a number of online agencies that can help you find a mortgage assistant. Keep in mind that while most of them will charge a flat fee, some will also offer an hourly rate. As long as you choose a company with a good reputation and one with a strong track record, you should be able to get a good price.
Another option is to ask your local real estate agent. While your Realtor may know of someone who can do this kind of work, it’s also a good idea to get a reference for their experience level. Make sure you ask for references, too, so you can confirm that the person you’re talking to is a mortgage assistant and not some fly-by-night Realtor who claims he can help you buy your house. Be sure, also, that your mortgage assistant has experience dealing with the paperwork involved in the process.
You can also try contacting the Better Business Bureau. While the BBB generally leaves comments about service providers, it can also provide a list of names of companies that have had issues in the past. A mortgage assistant can help you weed out any of those companies, as well. It just takes a little research. A few phone calls and emails should give you plenty of information about what to look for.
Finding a mortgage assistant isn’t difficult. With a little time on your side, you should be able to make some good contacts. Remember, when you’re shopping for an assistant, the most important thing is that you get one that is reputable. Check out the references and the track record of the company. After that, it should be pretty easy to find someone who’s right for you.