Continuing on with the series on PRMI advantage
Why use me? Why do I work for Primary (PRMI)
Look, the experience is just different
So, I want to break down the experience
And talk about how is it different when the process starts
I’ve referenced this in some of the videos
In fact, I think I am going to do a whole other series on this
I have strategy sessions with my clients
We do video calls, sometimes over the phone
Ideally I get to sit down with people
What most people do in the industry
Is what I call a “drive-thru lender”
“Hi Scott, I want to qualify for a home, and I want my payments not to be
more than $1800/month”
I run the numbers, cool.. “Based on your situation that qualifies you to $250K”
And most lenders say “Ok go shopping”
And that is just a wrong way of doing it
Look, purchase price influences payment.. True
Interest rates influences payment.. True
But, a little bit right.. Poquito…
The truth is this .. things like taxes, insurance, HOA,
CDDs, Flood insurance, assessments.
These things can move the payments by hundreds and hundreds of dollars
And here’s the problem..
If you don’t have that education up front
You end up buying or ‘falling” in love with a home
Look, the way people make decisions you make an emotional decision
Then find logical reasons to support that decision
That’s how you have bought everything you’ve ever bought in your life
That’s how I’ve bought everything I’ve ever bought
so here is the problem – if you don’t… (add the hyphen) have that education up front
You fall in love with the house. Throw conservative logic out the window
And end up making a decision that you might later regret.
One of the reasons why I survived the great recession and the housing collapse
And literally, ground zero is because back in 2005
I didn’t put people into loans they can’t afford
And it’s all about education
There is a saying, “Because educated clients make better decisions”
At the strategy session, I go over all of those things
But then I go even further ..
What is your situation? What are your short term and long term financial goals?
What changes are happening in your life?
Let’s go even deeper and “What are your views on money?”
I’ve talked in some of the videos about the livability factor
the heck with “what” the math shows…
What are you comfortable living with?
The truth is that changes based on life experiences ..
I went through a period of extreme poverty when I was young
And as a result to that I am a psychopath about my savings account
It’s not logical, its emotional, but it’s real
So what’s going on inside your head emotionally..
What are your long term and short term financial goals?
Because I want to make sure you are not making a decision
Based on today’s circumstances.
This decision is going to linger…5, 10, 15 years
And lastly what are all the things that go into a house payment
Because taxes and insurance have to be part of your house selection process
If they are not… You can get burned..
That’s what I got for you, I’ll see you on the next video
I’m Scott Digregorio, Your Mortgage Guy, take care