Six benefits of using a mortgage broker

A qualified mortgage broker is a financial services professional who can originate, negotiate, and process residential and commercial real estate loans on your behalf. They can help you get a better deal or help you solve complex financing issues.

Here are six benefits to working with a mortgage broker.

1. Access a wider range of loan products

An experienced mortgage broker has connections with a large network of potential lenders, giving you access to hundreds of unique loan products. With more loan types to choose from, there’s a good chance you’ll get the right loan with the right terms to match your unique situation and needs.

2. Save time

When you apply for a home loan through a mortgage broker, you only need to fill out one application instead of providing a new set of paperwork for every single lender. Your broker can also save you time on comparing different loans. Instead of wondering which loan is the best fit, why not explain your needs to a professional and have them make a recommendation for you?

3. Save money

Mortgage brokers represent a large portfolio of clients, which gives them leverage in obtaining wholesale rates from lenders that aren’t available to the general public.

4. A mortgage broker is your agent

Mortgage brokers act as your agent, meaning that they’ll represent your interests and not those of the financial institution. When you apply directly with a bank, the loan officer processing your application doesn’t work for you. They work for the lender.

5. Attain industry expertise

A mortgage broker can guide you through any complex lending situation, using innovative mortgage strategies and sophisticated solutions. From navigating credit issues to getting a larger loan approved or modifying the terms of your mortgage to suit your special requirements, working with a mortgage broker provides flexibility you just won’t get any other way.

6. Personal service

If you want to be treated like a real person and not a number, you’ll love the type of service provided by a mortgage broker. Your broker works on your behalf every step of the way, which means you’ll always have just one phone number to call whenever you have questions about the real estate financing process.

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