When some people want a cheeseburger, all they want is the meat and the bun.
No lettuce. No tomato. No ketchup, no mustard, no relish. Heck, some people don’t even want cheese on their cheeseburger: just meat between two slices of bread.
Some people look for their mortgage the exact same way. They want their rate to be as low as possible, and in doing so, end up with meat on a bun.
They buy a house, need a mortgage and only focus on the rate. When they do this, they miss out on all the options available to make their mortgage perfect for them, like their cheeseburger.
Do they need portability? A low penalty? A line of credit? Payment flexibility? The list goes on and on, similar to the list of options available to make the best cheeseburger.
Don’t get me wrong, I’m not saying the meat isn’t an important part of the cheeseburger – but so are all the other condiments.
So the next time you need a mortgage ask yourself, how do you like your cheeseburger?