3 Reasons to Use a Mortgage Broker
When it’s time to buy a home or refinance a mortgage, working with a mortgage broker will save you time and money. In addition, the transaction will be smoother and less stressful.
How and why is that the case, you ask? Here are the top three reasons you should work with a mortgage broker.
1. Understand your purpose
Buying or refinancing a home is one of, if not the, biggest financial transaction you will have in a lifetime and as such, can be a stressful experience. A mortgage broker will be able to have discussions with you to understand your real goals and purpose for the loan instead of just hearing your first inquiry and going forward based on that.
As a residential mortgage loan officer, I am concerned with digging into what it is you are really trying to accomplish. Are you looking to buy a new home and have a down payment and money for closing costs? Or, are you refinancing to improve your cash flow each month and don’t want to pay out of pocket costs? In both cases, the borrower asks for the lowest rate possible but the loan that works for each case is different. It’s my mission to find the loan that helps you achieve your goals.
2. Advocate for you
As mentioned above, dealing with a loan for many tens of thousands of dollars can be stressful but my job is to make is as smooth and painless as possible. Not only am I going to find you the best rate to help you with your plans, I will be there making it easier. Before we even begin the formal application process, we will talk about those goals, and I will let you know what documentation we will need to get started and ask you to gather it upfront in order to avoid a lot of back and forth of document requests. I will always protect the integrity of your personal information!
After that’s collected, my team and I will serve at the intermediary between you and all the other service providers who need to be part of the transaction; title company, escrow company, the lender, and so on. When issues arise, my team and I will address them and come to you with solutions, not just put the issue in your lap. That saves you a huge headache and makes the process more efficient and less demanding on you and your time.
3. Find the right solution
Another benefit of being a mortgage loan officer who works with a broker, is that I can shop around for the best rates and terms to suit your unique needs. Everyone’s situation is different and no one lender or loan type is right for all. This gives me the flexibility to dig in and figure out the perfect solution, unlike lenders who only represent the products offered by their employers. I'm not tied to any one lender, I am tied to you as my client and that drives me to do the best I possibly can to make your property dreams come true.
The next time you want to buy or refinance, consider a mortgage broker who has your best interests at heart.