What are the benefits of hiring a mortgage broker? Why go through all the trouble of meeting with a person or calling one on the phone when there are dozens of sites who purport to sell you mortgages at the click of a button?
It’s a great question. Here’s what you need to know.
What Mortgage Brokers Do
A mortgage broker brings customers together with the loans and lenders that are the best match for their unique financial situation and the type of home they are trying to buy. Here at 1 Stop Lending we work with over 100 of them.
That means we can help you find the best rates and help you apply to the mortgages that offer your best chance of getting approved. We also counsel you on steps you should take before attempting to get a mortgage. We’ll walk you through the paperwork you’ll need and the steps you need to take.
We are not mortgage bankers or loan officers, which is a good thing. Those individuals work only for an individual lender. We work for you.
What are the benefits of using a mortgage broker?
The first benefit is you save a great deal of time and hits to your credit score by working with someone who can match you to the right loan the first time around. You save headaches and frustrations by getting matched to programs you might never have heard of and might not have been able to research online.
It’s a quick, easy, one-stop-shop. You get an expert who advocates for you and who educates you on how to make the most of your unique financial situation.
We can sometimes get better terms than you can get by shopping for a mortgage on your own. Sometimes we can get these lenders to lower your interest rates or to waive some of their fees.
How does a mortgage broker work?
Once we’ve matched you to the appropriate mortgage and you apply the mortgage broker pays us a commission. You don’t have to pay us anything out of pocket, or anything at all. You don’t even have to worry about paying us with closing costs.
Not all mortgage brokers work this way: some do generate large fees that get rolled into your closing costs. Many charge “junk fees” that add to what you pay out just to buy a house.
Not us. We match you to the right mortgage, help you get approved, facilitate the process, and get paid by the lender so you don’t have to worry about a thing.
So, should you use a mortgage broker?
Probably, if you like maximizing your chances of scoring a house in this tough housing market. You’ll want the peace of mind that comes from knowing you’re taking out the right mortgage. This reduces your chances of losing the deal at a crucial moment, which improves your buying power and helps you find the house of your dreams.
Why not contact us today and see for yourself? We’re ready and willing to help.
See also:
What to Do if Your Gold River, CA Mortgage Application is Denied
Watch Out for These Junk Fees When Choosing a Mortgage Lender in Gold River, CA