When you're in the process of buying a home, your real estate agent can feel like your best friend. They're walking you through showings, negotiating on your behalf, and helping you chase your dream home. There’s someone else in the background who’s just as important, and they will likely be part of your financial life far longer: your mortgage consultant.
Unlike a realtor, whose involvement typically ends after the sale closes, a mortgage consultant may be part of your life for decades, depending on how long you keep your loan or if you later decide to refinance. That’s why it’s crucial to find someone you trust and feel comfortable asking questions. You also want a mortgage partner who genuinely has your best interests in mind like MSGCU mortgage experts.
Why the right mortgage consultant matters
A mortgage isn’t just a loan. It’s a financial commitment that will likely be one of your largest monthly expenses for years to come. A good consultant will:
- Guide you through your mortgage options, such as fixed vs. adjustable rates, FHA vs. conventional loans, etc.
- Help you understand the long-term financial impact of different loan structures.
- Keep your loan moving forward during the underwriting and approval process.
- Serve as a resource for preapproval, refinancing, and future purchases.
Finding the right mortgage consultant
A great mortgage consultant becomes a trusted financial ally. Here’s how to find the one who’s right for you in six steps:
1. Start early
Don’t wait until you’re deep into the house-hunting process to look for a mortgage consultant. Begin your search before you start viewing homes – ideally when you decide you’re serious about buying.
Early conversations can help you:
- Understand how much home you can afford.
- Get prequalified and/or preapproved. MSGCU offers many mortgage advantages, including a True Preapproval, which gives you credibility with sellers and a budget for home shopping.
- Identify and fix any issues on your credit report before applying for a mortgage.
- Learn about any special promotions for mortgage loans. For example, now through September 30, MSGCU is offering mortgage processing for just $99,* a savings of more than $600 on closing costs. To help you save even more money, attend our free Homebuyers Workshop and receive a coupon for $375^ off a home appraisal, applied at the time of closing.
2. Ask for recommendations
Talk to your friends and family members who’ve recently bought a home to request recommendations. Other great resources for ideas include your real estate agent and your financial institution. Don’t be afraid to interview multiple consultants during your search. Remember that the right one won’t pressure you to select them and they’ll welcome and encourage your questions.
3. Look for clarity, not jargon
A good mortgage consultant should be able to break down complex terms so you can understand all the different components of your mortgage. You want someone who empowers you, not overwhelms you. They’ll also explain various loan products clearly and be transparent about rates, fees, and timelines. If they brush off your questions about any of these areas or seem annoyed by basic concerns, that’s a red flag.
4. Evaluate their communication style
You’ll be in touch with your mortgage consultant (and members of their team if they have one) frequently throughout the process, especially during closing. Make sure they return calls and emails promptly, keep you updated on progress, and proactively share any potential hiccups.
It’s also a good idea to choose someone whose communication style matches your needs. If you're feeling anxious about the process, you’ll want someone more hands-on and readily available. If you're experienced, you may prefer a consultant who checks in only when necessary.
5. Make sure they’re transparent about costs
Your mortgage consultant should provide you with a loan estimate that outlines the loan amount, interest rate, closing costs, monthly payments, and more.
Be sure to ask about:
- Origination fees
- Discount points
- Private mortgage insurance (PMI) if applicable
- Prepayment penalties
6. Check credentials and educational resources
Ensure they have an NMLS number (every licensed mortgage consultant or loan officer has one), and look for signs of professionalism and integrity. Bonus points if they offer educational resources — that’s often a sign they want to help you make informed decisions. MSGCU offers free Homebuyers Workshops where you’ll learn about the buying process. Attend our workshop and earn a coupon for $375 off a home appraisal, applied at the time of closing.
You can also learn more about mortgages and homeownership through MSGCU’s educational tools. We offer an interactive financial education playlist with quick lessons covering the home buying process, refinancing, and more. Our blog is also a great resource that features articles on various mortgage topics, including:
- The anatomy of a mortgage payment
- Tips for a hassle-free mortgage process
- First-time homebuyer checklist
Now it’s time to start your search
Remember that your mortgage consultant may remain a financial partner for years to come. The right consultant won’t just get you a mortgage – they’ll help you build a solid financial foundation for the future. Contact an MSGCU mortgage consultant to learn how our experts can guide you through the homebuying process from start to finish and champion your financial journey.
*$99 mortgage processing fee offer available for mortgages loans originated and disclosed between 5/1/2025 and 9/30/2025 and saves $646 on mortgage processing when you obtain a mortgage from MSGCU. Homebuyers are responsible for any third-party closing costs including but not limited to home appraisal, home inspection, title, tax, and insurance. A loan amount of $200,000 amortized over 30 years at an interest rate of 7.000% has an Annual Percentage Rate (APR) of 7.066% and a payment of $1,330.60 with 0 points due at closing. The payment does not include property taxes or insurances, the actual payment will be higher. ^Attend our free Homebuyers Workshop and receive a coupon worth up to $375 to apply towards a residential real estate appraisal when you obtain a mortgage from MSGCU. The coupon credit will be applied at the time of closing.
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