Why use a Mortgage Broker or Loan Officer
Getting you the mortgage loan you deserve!
Mortgage brokers are autonomous, skilled professionals with licensing to diligently represent you and offer optimal advice tailored to your mortgage requirements.
The core competency of a Mortgage Broker lies in identifying and skillfully negotiating optimal funding and rates for mortgage financing. A proficient mortgage broker or loan officer is responsible for originating, negotiating, and processing residential and commercial mortgage loans on behalf of clients.
​
It's important to note that Mortgage Brokers and Loan Officers prioritize serving you, the client, rather than the banks.
Mortgage Brokers labor diligently on your behalf, not the banks.
They actively seek the most suitable lender for your unique situation. The repercussions of selecting an inappropriate mortgage can result in substantial additional costs. Mortgage Brokers, as adept professionals, are equipped to assist you in maximizing savings on your mortgage.
​
The contemporary market offers an extensive array of options and features for homebuyers. Navigating this landscape demands considerable time and effort. The intricacies of the mortgage process in today's highly competitive market can be daunting for many American homebuyers. Opting to collaborate with a seasoned mortgage professional ensures that you are represented effectively, guaranteeing that the mortgage aligns seamlessly with your specific needs.
10 Reasons to use a Mortgage Broker or Loan Officer
-
Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
-
They only specialize in mortgages and are knowledgeable on current trends.
-
They increase competition in the market place, thus keeping rates low.
-
They save you time and money!
-
Brokers have vested interest in satisfying your needs since they rely on referrals and repeat business.
-
Access to different lenders, banks, trust companies, investors and financial institutions.
-
Fast credit and loan pre-approvals with no cost or obligation. (Some conditions may apply)
-
They are experts at matching you with the best-suited mortgage.
-
Get mortgage rates at wholesale
-
They work for YOU, not the bank.
Other than rates, why should I use a Mortgage Broker?
In addition to rates, because mortgage-based financing is the broker's primary business, he or she has developed expertise in what type of mortgage financing each lender prefers to pursue. This kind of knowledge not only results in the most favourable rates for each project, but often whether a project is funded at all.
How do Mortgage Brokers Find Superior Rates?
Interest rates are a concern to borrowers. Because of their daily contact with lenders, brokers know which project or home attracts a favorable interest rate from one institution, but a higher rate at another. Some institutions, in fact, will only accept mortgage submissions from mortgage brokers.
These rates, and preferences for types of mortgages, can change daily, depending on economic circumstances or based on the size of an institution's portfolio in a particular type of mortgage. Your Mortgage Broker keeps current and knows which lender to approach first. As a result, mortgage rates obtained by Brokers are among the best available at the time of placement.
Why should I go to a Mortgage Broker first?
A professional presentation to a lender on the first application will get the best response and save you valuable time and money. Secondary applications with previous credit bureau inquiries may be more costly.
Often the success of obtaining mortgage approval depends on the way a proposal is presented and to whom it is sent. Your Mortgage Broker is trained to present your mortgage proposal where and how it will get the most immediate, positive result.
You don't call an insurance company for insurance - you use an insurance broker, because of their expertise, product knowledge and rates. So remember, call your mortgage broker first!
How do Mortgage Brokers and Loan Officers get better deals than many Banks?
The lenders who work with mortgage brokers include traditional sources, such as chartered banks, trust companies, as well as corporate and private pension funds.
In addition to these sources, brokers often develop professional relationships with private sources of funds, termed private lenders. These lenders can provide many various mortgage products not available at conventional sources.
