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Benefits of using
Mortgage Brokers vs. Direct Lenders
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Price
Many lenders use the services of Mortgage Brokers to perform what is known as the "Origination" of the loan to meet with and
pre-qualify the borrower, verify the credit and property aspects of the loan, and then provide it to them for funding. For performing this function, the Lenders give the mortgage broker a WHOLESALE, that allows your Mortgage broker to be always competitive with those lenders that utilize their own staff to perform the function of the mortgage broker. IT DOES NOT COST MORE TO USE THE SERVICES OF A MORTGAGE BROKER
Service
Your Mortgage Broker knows that the financing has a third ingredient beyond rate and fees timely performance. The Mortgage broker has an intense desire to honor their commitment to provide financing requested in a timely manner, for to do so gives them the lifeblood of their industry loan referrals from satisfied brokers and borrowers.
THE MORTGAGE BROKER IS COMMITTED TO CUSTOMER SATISFACTION.
Selection
If you were to apply for a loan from a bank directly, the lender would attempt to make your needs conform to fit their
particular lending program. Your Mortgage broker receives rate quotes daily from Wholesale lenders, both local and out of area, with hundreds of different programs and loan approval criteria. Your mortgage broker, as the representative of the borrower and not the lender, then finds the program to meet the needs of the Borrower- the only real way to get the "best loan".
MORTGAGE BROKERS REPRESENT THE BORROWER-NOT THE LOAN PROGRAM.
Protection
Interest rates change daily, and the your mortgage broker can provide the borrower the safest loan available. The borrower can, under most programs, choose to obtain a letter of commitment from the
mortgage broker at the initial application that will insure that the rate being offered will be available at the close of escrow.
THE MORTGAGE BROKER PROTECTS THE BORROWER.
Professionals
The world of mortgage finance is a world of constant change, your local Mortgage Broker is dedicated to keeping up with this change to provide the maximum professional service to their clients. This dedication is based on the belief that professionalism is only achieved by having the correct blend of product knowledge, and an intense commitment to customer satisfaction.
MORTGAGE BROKERS ARE REAL PROFESSIONALS.
Finally, borrowers have a tremendous advantage over Lenders!
"Lenders will always give you the best rate they can when they know you are getting more than one quote." |
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