There are many ways to figure out if a mortgage broker is right for you! While there are ways to find a loan on your own, a mortgage broker is able to help match you with the perfect loan best suited for your needs. A mortgage broker helps support you when going through various types of loans and finding the best interest options.
What is a mortgage broker?
Unlike a mortgage lender, a mortgage broker helps you find the right financial lender for your situation. Mortgage brokers are licensed financial professionals who act as a connection between you and the lender.
A broker has access to various lenders which will allow their client to have access to various different types of loans and products to choose from. However, just because you are working with a broker does not mean you are getting the best deal. You need to make sure you go over the terms and conditions prior to agreeing to any loan. Also, brokers manage the approval process which helps save you time.
After you have decided on the ideal lender, a mortgage broker will help compile and finalize any necessary paperwork. Your broker will send it to an underwriter. Once you are cleared to close, your mortgage broker will help you prepare for closing day!
Advantages of Using a Mortgage Broker
- Using a mortgage broker helps save you time and stress because they are able to find loans and organize the entire process. Your broker will organize all the paperwork and coordinate the underwriting process which will help close the loan more efficiently.
- Using a broker provides access to different lenders you might be unable to find on your own. They are able to find special rates that are most likely lower than what you would find on your own.
- Brokers are able to get lenders to reduce or even waive any potential mortgage fees. This can save you hundreds or potentially thousands of dollars.
- A mortgage broker will also be able to inform you if you are eligible for a loan and the chances for approval. They will be able to let you know how much you are able to afford as well.
- If your credit is not perfect or you do not have a steady stream of income, a broker will be able to help if getting a loan is difficult due to that situation.
- Due to a broker's vast knowledge and experience in the industry, they will help you stray away from making any mistakes that could damage you financially.
You Should Use a Broker When:
- If you are in a rush to secure a home loan. Working full-time and taking care of a family could be factors that would make securing a home loan a stressful or long process for you. A mortgage broker is here to take away that stress from you.
- If your credit is not great or you are a business owner, it may be difficult to find mortgages that work for you. Confiding in a broker can help you access beneficial loans for your situation.
- If you are interested in having your mortgage fees waived or lowered, a broker will help.
- If you have never been through the loan process before, a broker is a great way to guide you and help expand your knowledge of the process. Also, brokers can help you negotiate lower interest rates.
Why Dee Ayers is Different!
Dee Ayers has been in the mortgage business for over 25 years! She takes pride in herself and her team being open and honest with you. They will explain each step throughout the home-buying process. With that being said, she prides herself in her service and communication. It is important that we give you the best service possible, so you are able to obtain your dream home. Dee Ayers gets it right the first time around! Contact us today and we can figure out which service is best for you!