Use an Algorithm and Leave Your “Gut” Out of It

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While having strong instincts came in handy for our vine-swinging ancestors, nowadays, we don’t have to rely on just our guts for insight.

After all, while human nature gave us the tools necessary to survive in the wild, it did not prepare us for modern civilization. Instead, it’s caused us to bring irrelevant things like emotion, prejudice, and sheer laziness into our decision-making process. 

While there is a time and place for human nature with all its eccentricities, the mortgage industry is not one of them. When the stakes are high, as it is when you’re purchasing a house or refinancing, you want to make sure you’re making the most rational decision possible.

The Current State of the Matter

Unfortunately, most homebuyers today are anything but rational. They spend more time worrying about insignificant details like crown molding than they do about important things like how they’re going to afford the house, crown molding and all.

In the end, with so much on the line, many consumers end up allowing their misplaced loyalty, aversion to confrontation, and fear of being wrong to get in the way of their financial well-being. As a result, they end up paying excess fees and settling for second-rate terms. Worst of all, they end up taking the first offer they get instead of shopping around for a mortgage.

This can have costly consequences. According to Fannie Mae’s National Housing Survey, 36% of those who shopped around were able to negotiate a lower interest rate, 11% were able to pay less in origination fees, and 13% said they received lower points. This equates to saving thousands of dollars on your mortgage. 

Therefore, avoid falling prey to your instincts and let our technology find you the best rate. At Shop Your Own Mortgage, you can find out exactly what offers you qualify for under multiple lenders with just one application. 

We’ve come a long way from our jungle days. So put our algorithm to work, and leave your “gut” at home.

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