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WHY USE A MORTGAGE BROKER INSTEAD OF GOING TO YOUR OWN BANK?
Discounted mortgage rates aren’t guaranteed by Charter banks and lenders.
They generally don’t openly offer them without you specifically asking for
them. Mortgage brokers negotiate the rate on your behalf and make sure you
automatically receive the fully discounted rate, subject to qualifying.
No fees ( on approved credit) Mortgage brokers charge no fee to you the borrower.
They are paid a finder’s fee by the lending institution they successfully
place your mortgage with.
Mortgage brokers are not connected to one lender exclusively. They have access
to a pool of lenders across the country, who offer you the best possible rate
and terms.
Mortgage brokers shop the market for you- that way you qualify through one
application instead of having to qualify a dozen times by shopping yourself.
If you decide to shop the banks yourself remember that each time you contact
a bank they will pull a credit bureau on you and this can negatively affect
your credit rating.
You are under no obligation to commit to any mortgage approval a mortgage
broker obtains for you.
Mortgage brokers are regulated by Local, State and National laws and regulating
bodies.
Mortgage brokers are licensed and bonded professionals.
Personal, professional, quick, efficient service. You only deal with one
mortgage agent who helps you through each stage of your mortgage financing;
from initial discussion to determine your exact needs, to sound advice on
what mortgage product may be best for you.
Often the major banks have limiting criteria with no ability to be creative
or look for other avenues to qualify you for your mortgage. Mortgage brokers
can be very creative in getting you approved.
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