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Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Shmuel has over two decades of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. Shmuel provides a uniquely holistic approach to comprehensive real estate and financial matters that goes well beyond any single transaction. Shmuel is an award-winning financier recognized for maximizing the short-term and long-term objectives of his client. As a contributing writer to many local and regional newspapers and publications, his insights have been featured in the media for many topics, including mortgages, personal finance, appraisals, and real estate trends.

Have you ever been out with someone who points to a house or a car, mentions a stock or talks about something they “coulda” bought years ago at a significant discount? Have you ever been around someone who still pines over a lost opportunity regarding something they “shoulda” gotten involved in years ago from which they would have reaped big rewards today? Have you ever been around someone who has many grandiose plans and ideas if only he “woulda” had the money? Me neither. Just kidding. We all have, or we all do—so for those who have some experience with the age-old Coulda, Shoulda, Woulda syndrome, especially when it comes to real estate, this article is for you.

Coulda

Most homeowners can point to a house or property that they previewed that turned out to be a regrettable lost opportunity. For some, the lack of research or guidance prevented them from seizing the moment, and buying a home at a reduction years in advance. For others, they didn’t have the right advice in knowing what it would take to acquire a home and maximize their financial returns. More often than not, home buyers are their worst enemies in that they don’t realize that for $150 to $200 more a month, they can buy a house that is $50,000 to $75,000 more than what they settled for. Those smaller and “less expensive” homes can require tens to hundreds of thousands of dollars of work that some of the “more expensive” homes would not need. They coulda gotten the better house all along.

Shoulda

I very often experience a situation where a mere few months after a home buyer closes on their home, I get a phone call asking me if I can assist with a cash-out refinance or the like. After discussing their current financial and future needs, we clearly determine that the mortgage they were given to buy their home was completely inappropriate for their short-term and long-term objectives. In some cases, a smaller down payment (even at the expense of paying mortgage insurance in some cases) is more suitable knowing that tens of thousands of dollars can be saved and used for renovations that would substantially improve a home’s value. At other times, people are given a 30-year fixed mortgage when they know factually they will be relocating or renovating in a few short years and can benefit from a smaller term—lower interest rate—loan. They shoulda spent the time getting the appropriate mortgage in the first place.

Woulda

When it comes to real estate opportunities, I often hear from friends and clients that they turned away opportunities to invest in real estate or buy a house at a substantial discount because they didn’t have the necessary funds. As an investment, real estate is one of the safest assets that can yield lucrative rewards for its owners. A brief consultation with a competent mortgage expert can help position almost anyone (regardless of their income or credit profile) to acquire investment real estate without the hassle and heartache that many believe to be the case. So many “regular Joes” woulda been a lot wealthier today had they spent the time years ago to get the right guidance and advice.

The Bottom Line

You coulda called me for a confidential, no-obligation consultation about mortgage options available to you. You shoulda called me to get a second opinion, without any pressure whatsoever to use my services. You woulda saved thousands of dollars, or countless hours of stress by speaking to me for a brief few minutes and getting the right advice the first time. It’s never too late to get the right consultation and advice that can save you time and money over the life of your loan and home!

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