Telish, owner of his own mortgage company, discusses tips to find the right mortgage for every need
Telish there is a mortgage product to fit practically every need. "If you want to borrow money, there is someone out there who will loan it to you," says Telish. "The trick is to find the right loan for your particular needs at the lowest overall cost."
He emphasizes that the lowest cost does not necessarily equate with the lowest interest rate. "There are people refinancing their mortgage to save a quarter of a percent in interest and paying loan costs of thousands of dollars. This does not make good sense," he says. "Instead, these people should be comparing the cost of keeping their current mortgage to the true cost of refinancing."
Telish advises making payments low by stretching out mortgage terms rather than trying to pay the loan off quickly. "Too many people finance more mortgage than they can really handle," he says. "It is better to have low payments and double up on the months you can than to set your payment so high you struggle to make it every month."
Along with his willingness to work with clients to place them in the right loan as quickly as possible. "It is important to us to be sure that everyone has access to the right loan product. It is also important that these loans be processed quickly; most loans are turned around in seven days."
William Telish is the owner of his own mortgage company that has streamlined the mortgage application and approval process so that 70 percent of all loans are processed within seven days. Clients submit an electronic application on which an underwriter makes a decision within six hours if possible, and the loan is processed within seven days.
He is the owner of his own mortgage company and often works with individuals and families who are looking for a wide range of loan products. According to Mr. Telish, there is a mortgage product available to fit any need. He says, "If you want to borrow money, there is someone out there who will loan it to you. The trick is to find the right loan for your particular needs at the lowest overall cost."Emphasizes that "lowest cost" does not necessarily mean lowest interest rate. According to Mr. Telish, many people are refinancing to get lower interest rates without considering the overall cost of the loan. If the loan fees are thousands of dollars, it can take years to recover those fees and see any real savings due to refinancing. He says, "It is important to consider the total cost of a loan, not just the interest rate."
He emphasizes that the lowest cost does not necessarily equate with the lowest interest rate. "There are people refinancing their mortgage to save a quarter of a percent in interest and paying loan costs of thousands of dollars. This does not make good sense," he says. "Instead, these people should be comparing the cost of keeping their current mortgage to the true cost of refinancing."
Telish advises making payments low by stretching out mortgage terms rather than trying to pay the loan off quickly. "Too many people finance more mortgage than they can really handle," he says. "It is better to have low payments and double up on the months you can than to set your payment so high you struggle to make it every month."
Along with his willingness to work with clients to place them in the right loan as quickly as possible. "It is important to us to be sure that everyone has access to the right loan product. It is also important that these loans be processed quickly; most loans are turned around in seven days."
William Telish is the owner of his own mortgage company that has streamlined the mortgage application and approval process so that 70 percent of all loans are processed within seven days. Clients submit an electronic application on which an underwriter makes a decision within six hours if possible, and the loan is processed within seven days.
He is the owner of his own mortgage company and often works with individuals and families who are looking for a wide range of loan products. According to Mr. Telish, there is a mortgage product available to fit any need. He says, "If you want to borrow money, there is someone out there who will loan it to you. The trick is to find the right loan for your particular needs at the lowest overall cost."Emphasizes that "lowest cost" does not necessarily mean lowest interest rate. According to Mr. Telish, many people are refinancing to get lower interest rates without considering the overall cost of the loan. If the loan fees are thousands of dollars, it can take years to recover those fees and see any real savings due to refinancing. He says, "It is important to consider the total cost of a loan, not just the interest rate."
Telish also advises that it is better to keep payments as low as possible, even if it means stretching the term of the loan longer. He says, "It is easier to double up on payments if you want to pay off your loan quickly than to set your payments so high you struggle each month to make them."
Telish and his team have one of the fastest turnaround times in the industry. Users can apply online and often have a loan closed within seven days.
Telish and his team have one of the fastest turnaround times in the industry. Users can apply online and often have a loan closed within seven days.