WHY USE A MORTGAGE BROKER?
Independent mortgage brokers have had a significant and positive impact on the lending industry.
What is a Mortgage Broker?
A mortgage broker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. A mortgage broker is also an independent contractor working with various lending Institutions. By combining professional expertise with direct access to hundreds of loan products, your broker provides the most efficient way to obtain financing tailored to your specific financial goals.
What Do Mortgage Brokers Do?
In the volatile home-lending market, mortgage brokers can serve as safeguards by offering their clients security, safety, and peace of mind. One of the broker’s most important function is escorting your loan application through the entire process, constantly patrolling each milestone to ensure quality and fast close of escrow. A professional mortgage broker is very knowledgeable of the various Rate options each direct Lender has to offer, researching current market conditions to find the most accurate and up-to-date Pricing to fit your budget and Loan Program.
Brokers Handle the Details!
There are many variables that can affect the outcome of your mortgage transaction. It is always best to have a mortgage broker to act as a liaison between all the parties involved in the Transaction of Your Loan.
A mortgage broker will do the following:
- Discuss and explain financing program options
- Inform you, in writing, of “locked Rate” options
- Thoroughly Explains all documents of the loan process
- Explains all associated costs of the loan.
- Explains the disbursement of all funds at the close of the transaction
- Explains the loan process, from initial application to closing
- Provides you with a Loan Estimate showing details of the closing costs and fees
- Communicates with you throughout the loan process in a timely manner
- Coordinates the final closing of your transaction