May 17, 2019
A professional mortgage broker originates, negotiates, and processes residential and commercial mortgage loans on behalf of the client. So today, we are going to talk about benefits of using a mortgage broker in Free Coaching Friday.
We used mortgage brokers even when we were dealing with single family houses and it makes so much sense because they can shop the market for you and look for the best rates that are available. A mortgage broker represents your interests rather than the interests of a lending institution. With access to a wide range of mortgage products, a broker is able to offer you the greatest value in terms of interest rate, repayment amounts, and loan products. Many situations demand more than the simple use of a 30 year, 15 year, or adjustable rate mortgage (ARM), so innovative mortgage strategies and sophisticated solutions are the advantage of working with an experienced mortgage broker.
A mortgage broker offers a wide range of mortgage loans from a number of different lenders. The greater the broker’s experience and network, the better your opportunity to obtain the loan product and the interest rate that best suits your needs.
Mortgage brokers have flexibility and expertise to meet your needs. For example, sometimes if the client has credit issues, then the broker will know which lenders offer the best products to meet their needs. Borrowers who find they need larger loans than their bank will approve also benefit from a broker’s knowledge and ability to successfully obtain financing.
Mortgage broker also saves you time while shopping for the mortgage. Instead of filing application for each individual lender, which in turn lower your credit score, the mortgage broker offers loan on a wholesale basis from lenders, therefore offers the best rate available in market.
Most importantly, You should expect your mortgage broker to help smooth the way, be available to you, and advise you throughout the closing process.
To find out more, the benefits of using mortgage broker, watch my Facebook live video here.