Mortgage Loan Officer and Producing Branch Manager Tracie Schmidt at Supreme Lending on Why You Should Start the Homebuying Journey with a Loan Officer Before a Real Estate Agent
SAN DIEGO, CA / ACCESSWIRE / October 6, 2021 /Tracie Schmidt NMLS #269424, a Production Manager with The Schmidt Team at Supreme Lending, has been helping people obtain financing for purchase and refinance mortgage loans for decades. For many, the process starts with finding a home they like or connecting with a real estate agent, and the loan officer or mortgage lender is one of the last people to be involved. Schmidt shares why prospective homebuyers should contact a lender before they jump in with a real estate agent.
A real estate agent is an expert in homes, what they are worth, what they are selling for, market trends, what is moving, and what is not. They are there to help homebuyers explore and connect with the space they will eventually call home. Most real estate agents are not experts in mortgage lending. That responsibility falls to the loan officer, and as Schmidt points out, securing home financing is a far more involved process than most people realize. While they may find a home they love, if the financing does not work out, the whole process may fall through and be a giant disappointment for all involved.
According to the 2021 Home Buyers and Sellers Generational Trends Report from the National Association of Realtors Research Group, 87% of homebuyers finance their homes, yet only 7% contact a loan officer or lender beforehand, 18% contact a real estate agent, and 9% look for information online. This means that people go to a real estate agent first, then to the internet, before consulting a mortgage lender, even though financing is often the deciding factor of any real estate transaction. Schmidt aims to change the way people look at the process and help them realize that securing funding and reaching out to a loan officer should come first.
When a buyer starts out with a real estate agent, they can go through the whole home search process, find a property they like, make an offer, have it accepted, and have the whole deal fall through because of a snag in financing. These snags may result from a lack of down payment, overdue child support, a judgment against one of the buyers, a bankruptcy, bad credit, not enough income, self-employment income, gift funds…the list is long. Schmidt explains it can be a complicated, unpredictable process so just trusting someone who is listed online is like taking a blind leap, while working with a trusted lender beforehand can take a large amount of risk and stress away.
"My goal as a loan officer is to try and get my message out to as many potential homebuyers as possible, that they should go to a licensed loan officer before a real estate agent when considering buying a home. As a loan officer, I will help a homebuyer get prepared and ready by taking them through the pre-qualification process so they enter the market as an educated, competitive buyer. This will also help homebuyers when they talk to a real estate agent and start the home search process, knowing and understanding their buying power and what sales price could work for them," says Schmidt.
COVID-19 changed the way real estate works in a variety of ways, and Schmidt believes many of them are here to stay. It is a requirement of many home sellers now that buyers be pre-qualified, as they do not want to move unnecessary numbers of people through listed homes. That pre-qualified letter is the ticket in the door to even just have a peek. In this current market, there is a supply-and-demand issue, with far more people looking to buy than there are homes listed. This has made for a very competitive market for buyers. This is all part of why Schmidt encourages people to contact a loan officer first, so they can better navigate the market before getting to the make-or-break point of a real estate deal.
Schmidt offers tips to people looking to buy in a competitive market-including first-time homebuyers-through educational videos and information on her website.
Schmidt has been in the mortgage industry for almost three decades and has made it her passion to help people finance their homes and live the life they want. For her it is not about making money-it is about helping people. As she says, she "works for people, not the paycheck." Schmidt grew up in Long Island and after attending college at Bentley University, she headed to California and has called San Diego home ever since. Through her work leading The Schmidt Team at Supreme Lending, she is dedicated to going above and beyond to get people into the right mortgage program.
Schmidt was named a Scotsman Guide Top Originator 2021 and Top Women Originator 2021, as well as a Five-Star Mortgage Professional 2021. She was also recognized in the Top 1% of Mortgage Originators in America 2020 in Mortgage Executive Magazine. Schmidt took additional training to become a NAMB Certified Veteran's Loan Specialist to help active and retired military understand the benefits and how to take advantage of VA loan programs.
You can learn more about The Schmidt Team at Supreme Lending on her website, or connect with Tracie Schmidt through her social media pages: www.facebook.com/tracieschmidtmortgage, www.instagram.com/tracieschmidtmortgage. Let her show you a better way to experience the home financing process.
Company Name: Supreme Lending
Contact Person: Tracie Schmidt, Mortgage Loan Officer, NMLS #269424
Address: 2550 Fifth Avenue, Suite 709 San Diego, CA 92103
Phone Number: 858-336-5200
Website Link: http://schmidtteamsupremelending.com
SOURCE: Supreme Lending
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