When To Use A Mortgage Broker

Dated: April 23 2015

Views: 1337

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


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

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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

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




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  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.

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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....

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