A check up can save you thousands…
Annual Check Up
Most homeowners miss the benefit of the lender who doesn’t provide a yearly service called an Annual Review. Let me explain, we visit the dentist every 6 months for a cleaning and a checkup. We take our car in for an oil change every 4-6 months….why wouldn’t our biggest investment have a similar check up? Well, that is simple! Most lenders are focused on the purchase and only that. While we have learned things change, expenses change, and goals change for most homeowners. So, at Element Funding we have designed a program that not only takes care of you on the purchase of a home but manages the debt on your home year after year.
Each year, on the mortgage anniversary we want to review the mortgage and goals. Our clients simply provide our team the most recent mortgage statement on the home. It also doesn’t matter where you are making your payment (they are called the servicer) we are still your Lender for Life. Once we receive the mortgage statement we have a quick checklist to complete. We discuss any monthly cash flow changes, upcoming expenses, investments into the home since the last review and some other factors. We then review the potential equity position you were at a year ago and what you are at today. Next, we look to better the terms of the financing. Sometimes we can make it better but other times we are able to 6 | www.elementfunding.com
save in other areas like home insurance or PMI (private mortgage insurance). These and other factors such as the loan to value ratio (CLTV) and credit score ratings. If all is good, we roll on and check back again next year…but if we can save or assist in additional services we complete a comparison for your review before and after. Please also be aware that some loans when you return for your purchase can be obtained with no closing costs. If you would like your review completed ahead of schedule please just let us know, we would be happy to assist. Furthermore, because most lenders don’t offer this important checkup, we would be happy to extend the service to any friend or family member.
