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6 Must Know Tips for Finding the Right Mortgage Company

6 Must Know Tips for Finding the Right Mortgage Company

The joy that comes with owning a house is overwhelming, but from the financial aspect, purchasing a home is not an ordinary decision; it is the first foundation for a variety of decisions over the course of a lifetime.

Just like any major financial decision, before agreeing to settle on any mortgage, your goals and aspirations should be your deciding factors and choices. However, choosing the right mortgage company requires some vital steps to avoid pitfalls.

Following are the tips for choosing the right mortgage company.

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1. Mortgage Company Reputation and Review

The reputation of a company is vital and directly proportional to it growth, therefore, when searching for companies and consultants alike, you should also consider checking on their reputations and what people has to say about them.

Most importantly, not only should you look at their current, past reviews and remarks; you will also need to go on a personal investigation or hire someone. When you get an opportunity to speak with an employee of the Mortgage company or consultants, ask questions about remarks and comments you read online, this could clear you of some uncertainty.

2. Consider The Type of Lender

All companies irrespective of services usually come in different sizes of big, medium or small. If you want to deal with someone who is more personal and down to earth, opt in for a smaller mortgage company but they may not be able to get you good interest rates, unlike the medium and larger company or consultants who often have different and flexible rates. Also, ensure you do a thorough research and comparison.

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3. Ask Close Acquaintances

You could look around and ask your close ones who already own a home. Ask them how they had a smooth process, ensure you ask every single question about the mortgage company in question.

Here are some questions that could be helpful.

  • How were you treated?
  • What was the application processes?
  • Is there interest rate flexible?
  • How did you hear about them?
  • Rate the company’s services on a scale of 1 to 5?
  • Do you think I should go on with them?

4. Hire a Broker

Not everyone has the strength to do all of the research themselves. One important decision will be whether to do it yourself or to use the services of a broker who can save you time when you are looking for a mortgage company.

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However, you need to know that brokers earn commission by arranging deals between the borrower and loan agent. Some have been known to pair a client with the mortgage offering the broker mouth-watering profit, instead of the lowest cost to the client.

Do your homework on any broker you are considering before hiring one.

5. Check Out their Website

A company with a website dedicated for the purpose of mortgaging will go a long way in telling you how serious and committed they are. These websites should be filled with information on mortgages, like basic FAQ’s, types of mortgage and lots of information that can be a deciding factor for you.

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More importantly, such a website will provide access to customer services contact details.

6. Real Estate Agents Can Assist

Ask your real estate agent for good mortgage consultants, even though some agents have affiliated mortgage lending businesses, most will do more and refer the best mortgage company and consultant around town.

Some real estate agent will also tell you companies that take real care of their clients. Using a real estate agent could get you a discount at closing or a free upgrade. Do not ever underestimate their ability on this.

To own a home, do not rush it, follow due diligence and embark on a rigorous decision-making strategy, so as to get it right. Partnering with a good mortgage company can really make all the difference.

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Last Updated on April 9, 2020

Growth Mindset vs Fixed Mindset: 9 Distinct Differences

Growth Mindset vs Fixed Mindset: 9 Distinct Differences

Whether you are leaping into learning through college, university, or on your own time, there is one thing that is key. That is your mindset.

While these experiences in life will challenge you, it is your mindset that will determine whether you will succeed or fail. But also how much you grow.

In the end, our learning capabilities boil down to two mindsets that we must choose. Either a growth mindset or a fixed mindset. This growth mindset vs fixed mindset relationship is everything and is your key to success.

What we might not be aware of is the fact that we’ve already selected that mindset years ago. So to help out, I’ve put together differences between these two mindsets so that you can identify the problems and begin to grow yourself.

What Is a Fixed Mindset?

Coined by Carol Dweck, a fixed mindset, as she explains, is a mindset where everything is fixed.[1] Whether it is your intelligence or your abilities, everything is the same.

If you’re not good at something, someone who has a fixed mindset will think you’ve never been good at it and will never be good at it. There is no opportunity for you to learn and grow at all.

What Is a Growth Mindset?

Compare this to a growth mindset and it’s the polar opposite. Even when someone isn’t good at something, a growth mindset ensures that the person thinks they’ll get better over time.

While you can already see some differences on the surface between a growth mindset vs fixed mindset, there are more aspects to these than that.

9 Differences Between a Growth Mindset and a Fixed Mindset

Digging deeper, you’ll find these mindsets to be different in all manner of things. This is a persons way of thinking and viewing the world. When we change how we view things, our entire lives change. Consider these differences.

1. Differences in Challenges

The first aspect is how they approach challenges.

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People who have a fixed mindset will do everything they can to avoid challenges in their life. If there is an easier solution that their talents can overcome, they’ll take it.

Some examples of this are things like not studying for a test because they’re not good at the subject. That or only doing specific tasks at work that they know they can do with little issues.

On the other hand, those with a growth mindset embrace challenges in their lives. Yes, some of the work or effort may come out short, but they understand failure is part of learning.

What matters to them is that they have tried their best in those moments. After that, they learn and grow from the experience.

2. Differences in Handling Feedback

Second is how each one handles feedback and criticism.

For those with a fixed mindset, they will react in a negative way. Some will hate you and harbor disdain while others will ignore or avoid it as much as possible.

For those with a growth mindset, they view these talks as opportunities to grow. While it’s about their work and efforts, they don’t see it as an attack on their abilities. Provided that the criticism is valid, these individuals will take it to heart and incorporate it into their lives.

3. Difference in Intelligence

In particular, the belief of intelligence.

As I mentioned above, a fixed mindset is fixed. So when it comes to intelligence in a topic or skill, you either have it or not.

On the other hand, someone with a growth mindset believes that intelligence isn’t an inherent skill and can be developed. They believe that if they put in enough effort, things will move along.

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4. Differences in Tolerance

What I mean by tolerance is how long people can tolerate something before giving up or stopping.

For those with a fixed mindset, these are people who give up too easily. This shouldn’t be much of a surprise as I mentioned already they like to avoid problems and challenges. Any sort of roadblock will destroy someone if they think this way.

Those with a growth mindset though, are persistent and try harder. They’re not ones to shy away from challenges. And even if they fail, they try again later.

5. Differences in Viewed Success

It’s also worth looking at how the growth mindset vs fixed mindset view success.

For a fixed mindset individual, they are often jealous of those who succeed in anything. Deep down though, these individuals experience self-doubt which turns in jealousy but also insecurity.

Compared to a growth mindset individual, they get inspired by seeing others succeed. In many cases, they even help others around them succeed. That’s because they believe in themselves and feel they can help others too.

6. Differences in Failure

To no surprise by this point, those with a fixed mindset will shield themselves from failure. If they ever experience it, it’s often a negative experience. In fact, many people get stuck on one failure for their entire life.

It’s as if one failure has barred them from ever putting in effort into that area again.

But those with a growth mindset don’t have the word “failure” in their vocabulary. They see these as setbacks or opportunities to learn. They’re more eager to learn from their failures and are willing to grow as a person.

7. Differences In Learning

Their attitude about learning also is a key difference too.

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For those with a fixed mindset, they stop learning after post-secondary. They think that the learning ends after that point and you have to use that knowledge for the rest of your life.

Those with a growth mindset though know the truth though. They know industries, people, and the world changes around them. We live in an information age where more information is being put out every day. They recognize that learning doesn’t stop after college or university. It’s only starting.

8. Differences In Confirmation

One aspect that Dweck touches on in her book Mindset: The New Psychology of Success is the desire for confirmation between the mindsets.

She writes:

I’ve seen so many people with this one consuming goal of proving themselves — in the classroom, in their careers, and in their relationships. Every situation calls for a confirmation of their intelligence, personality, or character. Every situation is evaluated: Will I succeed or fail? Will I look smart or dumb? Will I be accepted or rejected? Will I feel like a winner or a loser? . . .

For those with a fixed mindset, this is a constant element for them. They need to prove to themselves and to others that they are valuable. It’s akin to our kids posting on social media for validation. Their attitude about themselves is judged by how many likes or comments they get.

It all boils down to numbers.

For those with a growth mindset, this aspect doesn’t exist. Sure there is some confirmation, but it stems from inside rather than from outside sources.

As Dweck explains in her book:

Why waste time proving over and over how great you are, when you could be getting better? Why hide deficiencies instead of overcoming them? Why look for friends or partners who will just shore up your self-esteem instead of ones who will also challenge you to grow? And why seek out the tried and true, instead of experiences that will stretch you? The passion for stretching yourself and sticking to it, even (or especially) when it’s not going well, is the hallmark of the growth mindset. This is the mindset that allows people to thrive during some of the most challenging times in their lives.

9. Differences in Effort

While this is an obvious one on the surface, there is more to it than that. After all, a mindset is developed through events and how we interpret those events in our lives.

For the fixed mindset, while they will do anything to avoid any negative events, that desire stems from deeper beliefs. Yes, they think everything is a fixed level, but that belief stemmed from how they were raised.

In the end, those with a fixed mindset believe that effort stems from their own abilities they had already.

Compare that to a growth mindset, their belief system is that effort stems from their current effort in developing something. They believe that effort stems from the action of doing something and learning from those experiences.

Final Thoughts

Being able to recognize the differences between growth mindset vs fixed mindset is key because it shapes our reality.

Even if you have a few of these aspects in the fixed mindset category, they can cause some problems.

People have given up doing something all because they experienced one failure or major setback in life.

If you think you need the approval of your talents, it suggests a lack of confidence in your skills. This can translate to how much you want to challenge yourself and develop yourself in that area.

A mindset shapes our view of the world and the people that are in it. When we change our mindset to that of growth, we clearly see the world in a different light. By developing yourself in this area and adopting this mindset, you too can change your life and grow more than ever.

More Tips About Growing Your Mindset

Featured photo credit: Adolfo Félix via unsplash.com

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