Tips for Hiring Local Independent Financial Advisers

Whether you’re in the market to buy your first home or are looking to refinance, hiring an independent financial adviser can be a great way to make sure you get the most out of your mortgage. The key to making this happen, however, is to find the right independent financial adviser—one who will help you understand all of your options, explain what each one means, and recommend what they believe is the best option given your unique situation. Here are tips to help you find that person.

  1. MAKE SURE THEY ARE LICENSED TO DO BUSINESS IN YOUR STATE

It is important to check if the independent financial adviser you’re considering is licensed to do business in the state where you live. This will ensure that the person you choose has passed rigorous exams and has a proven track record. If a potential adviser doesn’t have a license, look elsewhere. Remember, being licensed and being an expert are two different things, so it’s important to verify both.

  1. LOOK FOR AN INDEPENDENT FINANCIAL ADVISER WHO WILL WORK WITH YOU ON A ONE-ON-ONE BASIS

An independent financial adviser who will work with you on a one-on-one basis ensures that he or she will have the time required to provide you with the individualized advice needed to ensure that your mortgage fits your specific needs. Remember, mortgages are complicated, and there is no “one size fits all” solution. It’s important to make sure that the independent financial adviser you choose is willing to take the time needed to evaluate your situation and provide you with guidance tailored specifically to you.

  1. INVESTIGATE THEIR EXPERIENCE

An independent financial adviser can come in many shapes and sizes. Take the time to conduct research into the person you’re considering and make sure he or she has a proven track record of providing sound advice to numerous clients. They should also be able to provide you with references from past clients that are happy with the service they received.

  1. BE CAREFUL ABOUT OVER-PROMISING

Independent financial advisers need to clearly communicate all of your specific needs, not just what they think you could use or want, but rather how it will benefit you. Don’t forget that even the best mortgage is only as good as the person applying for it. If you don’t qualify, nothing can help you obtain financing. It is the adviser’s responsibility to make sure you have a clear understanding of how your credit score will affect your chances at qualifying for a mortgage and how long it will take to repair.

  1. ABOVE ALL, TRUST YOUR INSTINCTS

Your instincts are there for a reason—to protect you from danger or from making mistakes or taking unwise risks that could hurt you in the long run. Make sure that the independent financial adviser you choose is a good fit for you by assessing how they speak with you, how they interact with you, how they respond to your questions, and what they know about mortgages. The important thing is to make sure that the advice given is sound and from a trusted source. Don’t be afraid to ask questions—this is the time when the independent financial adviser does his or her best work and helps you feel confident about your ability to handle the steps needed to obtain your mortgage.

It is important that we all take our time when searching for an individual who will help us obtain financing. There is no one-size-fits-all solution when it comes to mortgage financing, and an independent financial adviser can help you determine the best plan for you.