Once your criteria is met, then you have found an agent who will help you find a home at the most reasonable price and with little difficulty. A mortgage broker is an independent real estate financing professional who arranges residential mortgages. Mortgage brokers don't lend and can't approve loans or make loan commitments to borrowers. Their role is to bring borrowers and lenders together. A broker keeps tabs on the mortgage market through ties to local, regional, and national lenders, and can refer a future borrower to a mortgage banker, savings institution or commercial bank.
Brokers provide consumers with choice, convenience and expertise.
The consumer receives an expert mentor through the complex mortgage lending process. A mortgage broker can place a loan with the lender that has the best rate at the time of agreement. Mortgage companies offer the consumer the means to obtain manageable and affordable home loans while balancing the consumer's financial resources and objectives. A huge benefit is the extensive network of private and institutional lenders that mortgage brokers represent. Since each lender has specific loan guidelines, the mortgage broker can help you find the type of loan that will suit your specific needs.