Dean Rizzi

10 Reasons to use a Mortgage Broker
August 18, 2008 ·  

1. Simply put, Mortgage Brokers will save you TIME and MONEY!

2. Brokers are driven to find you the best rate, your bank’s goal is to provide another service to you.

3. You can tell brokers everything, and they’ll present your information to the lender in the most favorable light; once you tell your bank something that’s not in your favor, it’s too late to take it back

4. Many brokers will work nights and weekends… banks don’t 

5. Access to loan programs-brokers give you more access to more loans than direct lenders.  Brokers shop the market and find consumers the best product for their particular needs.  They shop banks, trust companies, credit unions and finance companies.

6. Reaction to market conditions- Interest rates change daily.  Brokers can start a loan with one lender and switch to another lender if the rates improve. 

7. Brokers are paid by lenders, not by you.  Direct lenders give brokers wholesale rates.  Brokers make their money by tuning that rate into a retail rate.

8. Brokers can be more flexible that banks.

9. Brokers are not compensated until the loan closes.  You pay nothing for their services.

10. A broker deals only in mortgages.  By blending professional experience with access to many different wholesale lenders, they give the consumer the most efficient and cost-effective method of getting home financing while still receiving individualized attention tailored to their needs.

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