When To Use A Mortgage Broker

Dated: 04/23/2015

Views: 972

Mortgages made easy - we recommend 

Gail Sproul with American Equity Mortgage


 


When to use a Mortgage Broker


Are you interested in purchasing a home on the Treasure Coast? Search all available homes for sale now! We can help you find your dream home and also assist you in finding the perfect mortgage.


Mortgage brokers don’t work for a specific institution. Instead, they develop relationships with many institutions and then try to find the best loan for your needs. A broker doesn’t lend you money; they find someone who will. A broker will have you fill out an application to get an idea of your financial situation, and they’ll pull your credit as part of the application process.


The broker will take your credit score and financial information and look at different lenders and loan options to find the best one for you. Mortgage brokers can be better for  people with low credit scores, because the broker can you help find a lender who’s willing to work with clients with lower scores. Brokers will usually work with you and the lender throughout the loan process, and the broker is usually paid a percentage of the mortgage amount by the lender.


A broker’s job is to find you the best mortgage rate, term and cost for your specific situation, and since you don’t usually have to pay them (at least directly), they can be a good option. Remember, though, your broker is going to find you the best option from the lenders he or she has a relationship with – a broker isn’t looking at options from every major lender. Although they’re doing a lot of the work for you and have a lot of knowledge and experience that you might not have, they could be limiting your options.

If you want to work with a broker, try to find someone a friend or family member has worked with so you have some kind of a reference. Your real estate broker can recommend mortgage brokers also. When you find a broker, ask about his or her experience level, relationships with lenders, and any licenses and training he or she might have. Trulia.com recommends only working with someone who has a least five years of experience.


Find out how much home you can afford BEFORE you start looking! I recommend Gail Sproul with American Equity Mortgage. Gail is a twenty year veteran of the mortgage business. She can provide you with the guidance, skill and professionalism it takes to have a smooth buying experience!


Get you Mortgage Pre-Approval now - Visit 

Gail Sproul with American Equity Mortgage


Summary

Finding the right mortgage can be confusing and time consuming. That's why I always recommend speaking with both a Mortgage Broker and a Loan Officer.


About the author: Richard L McKinney - Realtor, Local Real Estate Expert & Nice Guy

I’d love to hear from you. 

What do you think about this topic?


Richard L. McKinney P.A.

Atlantic Shores Realty Executives

Selling the Treasure Coast - Port St Lucie, Fort Pierce, Stuart, Jensen Beach, Palm City and Hutchinson Island --- Homes, Condos, Townhomes & Land.

Sell Phone:  (772) 370-8631

email: StLucieRealtor@aol.com


 Visit me on the web ....

Port St Lucie Real Estate, Homes,Condos,Townhomes and land for sale in Port Saint Lucie Florida..

 www.TreasureCoastMLS.com

StLucieRealEstate.net

 

Please connect with me on the following:

On Facebook - The Treasure Coast Real Estate ReportThe Port St Lucie Real Estate BlogConnect with me on Google PlusInstagramConnect on LinkedInFind me on Pinterest


  My goal is to be your Realtor for LIFE. If you or someone you know has a real estate question, purchase or need to sell a property, please feel free to give me a call at 772-370-8631.

Blog author image

Richard McKinney

I have been selling real estate in South Florida since 1998 with a specialization in homes, town homes and condos in St Lucie and Martin Counties. My service areas include the cities of Port Saint Luc....

Want to Advertise on this Site?

Latest Blog Posts

Lifestyle Of An Organic Foodie

Organic food usually tastes better, and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50 percent more, thanks to the extra labor

Read More

Hidden Homeowner Costs

Budgeting for buying a home can be difficult enough when you're just weighing mortgage options and a purchase price. But there are many other factors that go into the cost of home ownership. Some of

Read More

Big Affordable Pool Home Port St Lucie

Looking For a Big Affordable Pool Home in Port St Lucie? Beautiful 5 Bedrooms, 3 Bathrooms, 3094sf Under Air in Blue School Zone (Great Choices) All for only $280,000! that is only $90 a!

Read More

Port Saint Lucie Housing Market Is Still Hot August 2017 Home Value Report

http://www.movetostlucie.com/what-is-my-home-worth.htmlClick on the Link above on or the Market Report To get a FREE Home Value Analysis.No pressure, even if you are not planning on selling and just

Read More