Why Do I Need a Mortgage Broker? Let’s Find Out! - MortgageDepot
Why Do I Need a Mortgage Broker? Let’s Find Out! - MortgageDepot
Abstract
Are you considering buying a home but concerned that mortgage knowledge is a prerequisite? Put your worries to rest! Most buyers know little about mortgages. Mortgage brokers help buyers demystify the mortgage mayhem, emerging with a home loan that meets their needs without compromising their budget. What Is a Mortgage Broker? A mortgage broker serves as a liaison between borrowers and lenders. Because there is a mind-boggling number of mortgage programs available, mortgage brokers make it their mission to know the ins and outs of each one. A Day in the Life of a Mortgage Broker Mortgage brokers sound like pretty busy people, don't they? Here's a list of tasks that you can expect your average mortgage broker to take on: Mortgage brokers help their clients score a pre-approval letter. One of these lenders might hold your ticket to a mortgage, but you would never know this if you didn't work with a broker! A mortgage broker might be able to negotiate lower fees with a lender. Miscellaneous lender fees add up, but some lenders are willing to drop these additional costs for a mortgage broker, potentially saving you thousands of dollars.