Using a Mortgage Broker

Advantages of Using a Mortgage Broker

 

 

♦ Experience/Expertise 

♦ More Options/Competitive Rates
♦ Accountability/Integrity

Personalized Service/Higher Level of Client Satisfaction

♦ Faster Paperwork and Closing Time
♦ Flexibility
♦ Clear Compensation

A mortgage broker is an independent real estate financing professional who specializes in mortgages and offers loans from a broad range of lenders, which gives the client the advantage of extensive choices and access to many different options for financing.

Experience/Expertise – The biggest advantage of using mortgage brokers is that they know the business.  Clients benefit from the expertise of an experienced, knowledgeable professional to help them navigate through the maze of mortgage products and the complex mortgage lending process.

More Options/Competitive Rates – A mortgage brokers is not limited to in-house “company” products and has access to literally hundreds of mortgage products, which allows her to offer competitive rates and cost-effective mortgage options to fit each client’s individual financial needs and long-term goals.

 

Accountability/Integrity – Mortgage brokers are held to the highest standards to protect consumers and must be licensed, complete mandatory education requirements and submit to criminal background checks.  They are also regulated by federal and state lending laws.

 

Personalized Service/Higher Level of Client Satisfaction – As independent business owners who rely on repeat and referral customers, mortgage brokers work hard to ensure client satisfaction and provide a high level of personalized service to their customers.

 

Faster Paperwork and Closing Time – A mortgage broker can simplify the loan process and save you time, work, and most importantly, stress.  As your representative they will oversee every step and can expedite the processing, underwriting and closing time.

 

Flexibility – Using a mortgage broker gives you the opportunity to interact directly with the person managing your loan and offers you the flexibility of either working together in face-to-face meetings, or through conference calls, or even by e-mail.  Whatever the method, what is most important is that you are being provided with all the information you need, in a timely manner, so that you can make an informed decisions.  A good mortgage broker goes out of her way to be accessible beyond banker’s hours.

 

Clear Compensation There are no hidden costs.  Mortgage brokers disclose all of their fees to the borrower, as required by federal law, and are only paid on loans they close – so they go the extra mile to make sure every customer is satisfied.

 

 
More information from the National Association of Mortgage Brokers (NAMB)
 
 

Mortgage Brokers - Helping Keep our Economy Strong