At Morty, our main mission is to empower home buyers by giving them access to a wide network of lenders and products and allowing them to shop and compare all of their options before committing to one. We’re sharing the second installment of our Borrower Stories—a series where home buyers who’ve used Morty summarize their custom tailored, modern mortgage online experience.
We partnered with the online liquor store, Minibar to throw first-time home buyer, Juliann a housewarming party in her newly purchased condo. There, she shared her experience working with Morty.
Q: How does it feel to be a homeowner?
A. Pretty good, it still hasn’t completely sunk in just because I haven’t had my first mortgage payment yet, but it feels pretty good so far. I love being able to live by myself, so it’s all been good.
Q. What were the deciding factors that went into becoming a homeowner vs. a renter?
A. I did have some money that I wanted to invest, I was at the stage in my life where I wanted to own something and not throw money down the toilet every month.
Q. What had you heard about the process of getting a mortgage/what were your expectations, and how does that compare to your actual experience using Morty?
A. Morty was a great experience—[my mortgage expert] was extremely helpful—I was very comfortable working with her, which made the process so much easier. Before going into it, I didn’t really know what to expect, which was kind of overwhelming at times, but I trusted everyone at Morty. [Overall] that made the experience so much better and made me feel calmer through it.
Q. What was the best thing about working with Morty overall?
A. I was working with another lender [prior to Morty], but it was hard because I couldn’t see what other lenders [had to offer]. With Morty, I was able to ask questions and get advice on different scenarios that made the most sense. I was able to plug in different numbers and see how that affected different rates, which was really eye-opening. And my Morty experts were very communicative and willing to get in touch with me if I had questions—even in off hours.
Q. If you could give one of your friends (or anyone) who is looking to buy a home advice based on your experience, what would it be?
A. I would tell them not to stress out about little things at the moment—when you’re [purchasing a home] for the first time, you’re always thinking “oh my God, this is such a big deal” and afterward, it gets resolved and you realize it wasn’t really. It all works out.
Q. Obviously, a home is the biggest purchase you’ll ever make. How did you know you’d found the right home and what were the emotions or next steps leading up to that purchase?
A. I made a bid on a couple other places before I made a bid on my current place, and I wasn’t planning on going up on my original offer. When I found a place where I realized that I was actually willing to go higher on what I originally wanted to pay, I knew it was the home for me.
Q. How do you feel the homebuying process is going to change for millennials versus your parents’ generation?
A. I did consult with my parents before buying. Usually, the idea is that you get married and then you buy a house—that’s the norm, but I’m a single person that bought something big and I think that’s what’s different [about our generation] in particular. We’re doing things differently—not because it’s expected, but because it feels right.
Q. Were there specific aspects about mortgages/the mortgage industry that you learned through Morty that you don’t think you would’ve learned (or would think to learn) otherwise?
A. When it was brought to my attention that my monthly mortgage payments weren’t going to go up, I realized that I could put less money down, and put more money away than I originally was going to do, which was very helpful to me!
“Usually, the idea is that you get married and then you buy a house—that’s the norm, but I’m a single person that bought something big and I think that’s what’s different [about our generation] in particular. We’re doing things differently—not because it’s expected, but because it feels right.”
What do you think is the greatest value in being able to shop and compare?
A. The process was definitely more clear with Morty because I could see the different options in front of me and learn how each would affect me. I don’t think I would’ve had the same experience going through a lender because I would only be seeing the [products] that they had to offer.