At Insurance Shopper VA we realize a mortgage broker/lender’s job never stops. You are a constant force in motion whose only priority is getting your borrowers’ dream of homeownership to come true. Sometimes things just aren’t within your control though. After all, you can’t move the interest rates yourself right? You can’t make your borrowers have great credit. Unfortunately sometimes the borrower doesn’t understand that, or they become frustrated with the process.
Control what you can control as the lender We’ve seen situations play out when the market has gone haywire, where the borrower’s interest rate increases before settlement. When that happens it makes the other variables in the process that much more important... if you still plan on closing the loan-for example the homeowners insurance. Regardless of how many times you try to explain these things to borrowers, most of the time, all they’re concerned about is what their final monthly payment will end up being, and whether they can afford it. Homeowners insurance can be a big part of that, and could potentially make or break a settlement if the borrower’s escrow payment is unexpectedly higher than anticipated.
Educating your borrowers can be hard You know there are many variables that go into it, but a lot of the time they don’t think that through. How much they put down, what their interest rate is, do they have PMI, how much is their homeowners insurance — these are all things that go into their monthly payment.
Because Insurance Shopper VA is an independent agency, we have access to a wide range of insurance companies which means we can find the absolute best homeowners insurance policy available for your borrower. Are you a mortgage broker who is looking to partner with a power house insurance agency for a quote for your borrower?
Our goal is to provide you with ease-of-access to our agency for your borrowers’ quote requests.
Complete the fields below to have a member of our team contact your borrower to get the process started as soon as possible.