Here’s Why You Need to Follow Your Instincts When Pursuing a Mortgage

In a world where data greatly affects our conscious life decisions, it’s quite hard to imagine a scenario where decisions are made by just “winging it”.

Some of the key decisions made by people, from dating choices to investments, are greatly affected by number-based algorithms. Given the extent of the practice, it’s safe to say that there’s some cultural bias that exists towards quantifiable data.

Funnily enough, some of the big kahunas in the business world have confessed to relying on their gut feeling when it comes to making top decisions. The fact that 40% of CEO actually trust decisions made by the body’s mechanism of interpreting information says a lot about the validity of the gut. This is especially true when you consider that these CEOs have access to vast data sources.

When applying for a mortgage, it’s wise to weight both the rational thoughts and your intuition

While it’s true that data and analytics play a fundamental role in business enterprises, a balance has to be struck between trusting computational results and your own intuition.

The gut check is a phenomenon which came about after eons of evolution. In nature, it became the body’s way of conveying the presence of danger, way before the rational mind understood the environment.

The Lending Process

If you’re going mortgage shopping and have some reservations about a lender, then, it’s best to at least listen to what your gut has to say about the setup before proceeding further. Why so? Largely because the home acquisition process should be handled by people you trust and seem to have your best interests at heart.

Without the element of trust, it becomes almost impossible for you to get what you need. Simple transactions like preapproval letters can easily get lost in between exchanges. Such scenarios are usually quite common in cases where multiple borrowers exist.

In years gone past, lenders were compelled to give prequalification letters to borrowers before any major transaction. In that period, those, in the real estate business already knew that those prequalification letters did not have much value.

The letters contained information detailing that the process which the borrower and lender had undergone before a deal was struck to issue a specific loan amount. During negotiations, the lender would the financial history of the borrower before confirming whether the loan request can be approved.

It is important to note that during the cross-checking process, the lender did not have access to the borrower’s tax returns, income documents, and credit card history.

In essence, the prequalification letter greatly determined whether borrowers were able to receive loans. Today, the system has greatly changed. Borrowers nowadays simply need to go online and make utility of online calculators to determine what loan amounts they qualify for.

Focusing on the Gut

Your gut could be the difference between you landing a favorable mortgage and getting stressed out with the fine print.

As alluded earlier, the gut feeling is often times right. However, knowing that as a fact will not do you much service if you don’t learn to listen to it.

Easy as it may seem, listening to the gut is something that can a lot of time to master. Some practices like mindfulness, yoga, and meditation as some top regimens that have been known to foster the enhancement of intuition.

Once you adopt at least one of these and make them become habits, it’s going to be considerably easier to make spur of the moment decisions. It’s how some of the most successful people in the world have managed to carve a niche for themselves in the world.

Famed psychologist, Gerd Gigerenzer, posits that about 50% of decisions at the top international companies are made from the gut.

According to scientists, the gut instinct emanates from the “second brain”. In medical terms, the gut is described as the enteric nervous system (ENS). The system consists of millions of neurons spread out across the gastrointestinal tract. The receptors on the neurons are so effective that they can detect feelings like excitement and stress. Even when one is not conscious of what’s going on.

The Mortage Gut Check

During the mortgage application process, it’s quite easy to get lost in the hubbub and start over-analyzing situation. While this is often the case, you need to alter the way you think about situations. By simply making room for gut checks, you can create suitable conditions for your gut to kick right in.

Impressively, you don’t really need to tweak much in the things you do. A walk out and about or a simple change of scenery is all it takes for thought patterns to switch up during which internal cues get activated.

Once your mind is unclouded, you can invest your energies into carefully contemplating about the deal your lender is offering. Whether it’s f