What Is Mortgage Planning?

Mortgage Planning is the process of carefully evaluating your mortgage options and choosing the right mortgage strategies. Your mortgage is most often your single largest debt, and your home is most often your single largest financial investment. That’s why mortgage planning should not be a do-it-yourself endeavor, but rather a collaborative effort with your Certified Mortgage Planning Specialist (CMPS®). Here’s how the mortgage planning process works:

Step #1: Our Initial Conversation Will Focus On:


What does your current housing and cash flow situation look like?


What are your new housing and cash flow objectives?


What large expenses should we take into account as we help you develop a housing and cash flow budget?

Step #2: We'Ll Analyze & Evaluate Your Options


What are your housing, debt planning, and cash flow options?


What, if any, mortgage products and strategies would be useful to you?


What is the likely short and long-term impact of these mortgage options on your overall situation?

Step #3: We'Ll Develop & Implement Your Personal Mortgage Plan

Once we’ve discussed your options, and how these various options may impact your overall housing and financial situation, it’s up to you to decide on which plan of action works best for you. I’ll be here to answer any questions and be a resource to you in any way I can. I’ll also coordinate the whole process with you and your financial advisors as necessary.

Step #4: We'Ll Monitor Your Mortgage Plan Through An Annual Mortgage And Housing Review

Mortgage planning is a life-long process because your financial situation is likely to change from time to time. As your mortgage planner, it’s my role to help you monitor these changes as needed and through an annual conversation. During our annual review, I’ll give you an update on the interest rate and housing market, and we’ll discuss any changes that may have occurred in your situation to see if it makes sense to modify or update your mortgage plan.

Source: CMPS Institute