Mortgages Are Not Actually Scary

By Amy Patterson


Getting a loan that will take over a decade to pay off can be scary. Appraisals, inspections and big decisions can also be scary – and I’m willing to bet that you’ve probably heard the dreaded phrase “surprises at the closing table.” 

But do you know what is scarier? Paying someone else’s mortgage and getting nothing in return. Or, as some landlords like to call it, renting. Now, I get it, renting can be great for some people in certain stages of life. College students, for example, or those who aren’t sure where to dig their permanent roots, are great candidates for renting.

Now, for those of you ready to rid yourselves of renting, let’s tackle that monster under the bed that is the mighty mortgage. While signing on for that big of a loan can be intimidating – and understandably so – the important thing to remember is that once you have paid that loan off, you will have that much in equity – which you can do a lot with. You will also be living for free (sans property taxes and insurance costs).

The real secret to buying a home, and alleviating the scare factor, is working with a great mortgage company – luckily, you’ve already found us. Your mortgage company can walk you through every appraisal, inspection and insurance door – and recommend the best companies for you to use.

And as far as those closing table surprises, thanks to this nifty invention called a Good Faith Estimate, you will know all of your closing costs before you even sign your loan documents.

For those of you who have found a place you would love to live and are considering buying a home, I hope this helps to dispel some of the typical fears associated with the mortgage industry.

If you would like to read more about buying your first home, keep an eye out for our First Time Home Buyers Study Guide – it's coming soon! It’s a fun way to learn about the steps of the mortgage process, with easy, simple language that won’t bore you to death.

Tags: Insider, Loans, Mortgage, Finances, First Time Home Buyers