Everyone wants things done fast nowadays. After all, it’s the era of Amazon Prime. There are many advertisements that talk about how quickly you could get approved for a mortgage or closing on a mortgage. But lets think about it…is faster always better? As a society, we are definitely less patient than ever before. Think about it. If you don’t get your Amazon Prime shipment in two days, are you okay with that? I bet you have some sort of issue with it!
But a mortgage is something that should take some thought. You are not buying a new pair of sneakers from Amazon. You are committing to the next fifteen or thirty years of your life.
There really is no benefit to closing on your mortgage in a speedier manner – or even being approved. There may be some fine print, too, where you find yourself paying more. And you may not even be guaranteed the closing date is as soon as you want it as it is out of the hands of most people.
Instead of choosing a mortgage that is fast, choose a mortgage that has the right interest rate for you, the least amount of closing costs, and the best terms. Buying a house is a big decision. We urge you not to make your decision on what is the quickest and advertised as the easiest! We know that if you are on the hunt for a new home, moving in is important to you. But we are talking about your future here – not just living in a beautiful home.