3 Things You Should Know Before Working with Mortgage Broker
You’ve narrowed down the hunt to find your dream house, and now you’re on the research for the best mortgage to put those keys in your hand. One way to do it: Work with a mortgage broker who can shepherd you through the complicated lending procedure from start to end. You’ve probably heard the term “mortgage broker” from your real estate agent or friends who’ve bought a house. But what precisely is a mortgage broker and what does one do that’s dissimilar from, say, a loan officer at a bank? 1) What Is A Mortgage Broker? A mortgage broker acts as a mediator between you and potential lenders. The broker’s job is to work on your behalf with numerous banks to search the best mortgage lenders who best fit your requirements with the lowest rates. Mortgage brokers have a well-developed steady of lenders they work with, making your life easier. New mortgage brokers are licensed and regulated financial experts. They do all the l...