The Advantages of a Mortgage Broker

Need a mortgage loan for either a home purchase or refinance? Can't decide where to go for the loan? A mortgage broker will give you more options with the availability of virtually hundreds of loan products, convenience and more overall savings than your local lending institution. A mortgage broker is one stop shopping when you are in the market for a mortgage loan.

What is a Mortgage Broker?

A mortgage broker is an independent real estate financing professional who specializes in the origination of residential mortgages. Mortgage brokers normally pass on the actual funding and servicing of loans to capital sources who act as loan "wholesalers." There are approximately 20,000 mortgage brokerage operations across the nation that originate well over half of all residential loans in the U.S. A mortgage broker is also an independent contractor working on average, with 40 wholesale lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, a broker provides customers the most efficient and cost-effective method of finding suitable financing options tailored to their specific financial goals.

Why chose a Mortgage Broker?

Nearly 70% of Americans do. A mortgage broker provides customers with:

Choice:	Mortgage brokers are able to find the exact program and most competitive rate based on the individual customer's needs.
Convenience:	Mortgage brokers can reduce the paperwork and the verification process that would normally be placed on the customer.
Expertise:	By using several lenders as opposed to one, mortgage brokers have more to offer customers. The customer receives an expert mentor through the complex mortgage lending process. The broker offers the customer numerous choices and access to affordable home loans while balancing the customer's financial interests and goals.