That way, when a Buyer shows an interest in your property you can give him the information he needs to get started on finding a loan. For Buyers, choosing a mortgage broker is a little difficult. There are lots of entries in the phone book and numerous choices on the internet. Again, the most important criteria are experience and local knowledge. The mortgage broker can make your transaction go very smoothly or hopelessly foul it up.
Mortgage brokers have access to a large variety of loans from different lenders.
However, the bank may have access to loans which are just as competitive. So check out both. The Buyer should meet with the mortgage broker, go over the basic facts of the transaction, and provide financial information. Find out how much experience and local knowledge the mortgage broker has and ask for some references. If the mortgage broker is established and competent she will be able to give you the names of satisfied clients or real estate professionals you can contact.