Why Using A Mortgage Broker Is the Best Option for Buying or Refinancing Your Home
Updated: Aug 16, 2022
Why use a mortgage broker?
Mortgage brokers are experts in the field of mortgages. They will help you understand all aspects of the loan process and how to get a mortgage, including how much money you need, which lenders offer the most competitive rates, and which lender will provide the terms that fit your needs the best.
Below is a quick list of benefits a Mortgage Broker can provide you through securing a home loan or refinancing your existing mortgage.
Save Time and Money.
If you decide to use a mortgage broker, you won’t have to spend hours researching different lenders and closing costs. Instead, you can focus on finding the right property and getting pre-approved for a loan.
A mortgage broker acts as the middle-man between you and a lender. They do all of the communicating, applications and "shopping around" for you. You only need to apply with them once, and they contact the various lenders on your behalf. This saves you a great amount of time (and stress) They also help you prepare all the documents you will need before the application process.
Find the Right Loan for You.
A mortgage broker is a financial professional that will help you find the right loan for your needs. Not only have they worked with many clients in many different financial situations ( unlike a bank or direct lender) they may also have access to hundreds of different lenders that could have more flexibility or better rates than your bank can provide.
They can also help you understand what type of loan works best for your situation, brokers are motivated to get you the best solution, not sell a specific loan product to you.
Working with Clint was easy and stress free. He knows his way around the finance world and it shows. He got us a great mortgage lender and rate. - Charlea Adams
You'll Know Exactly what You're Getting Into.
Talking with a broker is an easy and non-stressful process. You don't need to make appointments weeks out just to have your questions answered. You can call, text or email me anytime if there's something you're unsure of.
They will help you plan for the future.
The mortgage you're getting right now is important, but it's also important to talk about your short and long term goals when choosing the best loan for you. If you're likely to refinance before your mortgage term is up (say to use the equity for other investment opportunities) , you're going to need a flexible loan that won't leave you with big penalties if that's the plan.
A broker can be there to advise you years and years after you work with them for the first time.