Smart counseling can make all the difference
What they underestimate is that smart counseling means that they make better decisions. They end up with the right loan, make the best rate versus fee choice, and lock on a better day than average. The difference in dollars between good and poor choices runs into the thousands of dollars, often tens of thousands of dollars if the loan is larger.
Borrowers need help from a competent, experienced loan officer. How do they find such a person by calling companies they may never have heard, talking to people they do not know if they can trust, and engage in a process that they do not really understand as well as they should? The answer, of course, is that they can’t. Yet their belief structure forces so many of them to repeat this same flawed process over and over.
So why do we cling to our beliefs? The answer is that we believe both consciously and subconsciously, that our survival is based upon them. When the beliefs end in success, they are reinforced. Unfortunately, when the outcome is failure, the mind seems to compensate by rationalizing it and explain it as someone else’s fault, not a fault of our beliefs. The result is that our beliefs have a terrible hold on us.
If you need a mortgage, let go of your old beliefs about how you should shop. Don’t be like Columbus. Find the best person you can to help you. You cannot find that person by shopping for rates.