What Your Realtor Isn’t Telling You About Mortgage Rates
Let’s be real. Buying a home is already a bit overwhelming. Between searching listings, setting up showings, and figuring out if the pink bathroom is a dealbreaker, it’s easy to assume your realtor is handling everything.
But here’s the truth. Most real estate agents don’t dive deep into your mortgage. And honestly, it’s not their job to.
When you ask them who to use for your loan, they’ll usually toss out a name. Maybe two. And that’s it. No breakdown of options, no talk about buy-down strategies or long-term savings, just a quick referral.
But that referral could cost you thousands.
Why That Recommendation Might Not Be the Best for You
Realtors build relationships with lenders all the time, which isn’t a bad thing. But it also means they may not be thinking about your goals. Maybe the lender they refer works fast but charges higher rates. Maybe they’ve closed deals together before and the process is smooth, but that doesn’t mean you’re getting the best offer.
You want a lender who will ask the deeper questions.
What are your long-term plans?
How long do you plan to stay in the home?
Do you need to keep cash liquid after closing?
Are you more focused on your monthly payment or your total interest paid?
If nobody’s asking those, that’s a red flag.
Real-Life Example: The Ninety Dollar Mistake
One of our clients was quoted a rate that sounded just fine. They trusted their agent’s referral, didn’t shop around, and were ready to lock it in. When they talked to us, we ran the numbers and found a way to get them a similar rate with seventy-eight hundred dollars less in fees.
That difference saved them almost ninety dollars a month.
Over five years, that’s over five grand they would have lost if they hadn’t asked one more question.
So How Do You Protect Yourself?
It’s simple, but most people don’t do it.
First, talk to more than one lender.
Second, ask about rate options, not just the lowest rate.
Third, understand the tradeoff between points, fees, and long-term savings.
Finally, work with someone who educates you, not just closes deals.
You don’t have to become a mortgage expert, but you should feel like your lender is one. And they should be willing to teach you just enough to make a smart decision.
The Bottom Line
Your real estate agent might be amazing. But your mortgage is a different world entirely. Don’t treat your loan like a box to check. Treat it like the financial tool it is. One that can either set you up for long-term success or quietly drain your bank account every single month.
Want a second opinion on your loan quote? We’ll break it down in plain English. No pressure. Schedule a call here!
