Reasons to Work with an Independent Mortgage Professional

Why work with big banks and corporations when independent mortgage professionals provide faster closings, better service and lower rates?

As a Broker, we provide you and your buyers with faster closings, better service and lower rates. Why pay retail when you can get wholesale? Supporting your locally owned independent businesses is always a win! Reasons to trust our independent mortgage expertise:

• We shop multiple lenders to find the best rate and product for your buyers' needs

• We can get you to the closing table and into your dream home faster (20 days or less)

• We offer wholesale interest rates - some of the lowest in the industry

• Your buyers' can get instant funding at the closing table

• We're experts at mortgages - because it's all we do!

• We offer technology that lets your buyers' apply for their mortgage anywhere and track their loan progress all the way to closing!

• We're a local independent business who is focused on providing elite client service to our community

Mortgages are a significant responsibility, as they represent large loans that can last for many years, often placing a considerable amount of stress on anyone who decides to take one on. However, for most people, a mortgage is the only way to own a home, making it a crucial decision that requires careful and thoughtful consideration.

Most mortgage seekers are not very familiar with home loans or real estate in general, which means they are likely to make mistakes if they choose a lender on their own.

When choosing a mortgage, there are several factors to consider:

1. Interest Rate

   • Compare rates from various lenders.

   • Choose the most competitive rate available.

   • Consider the potential for refinancing in the future if rates increase.

2. Researching Better Offers

   • Don’t settle for the first rate offered by a bank, especially if it's your own financial institution.

   • Take the time to research and compare mortgage offers from different lenders to ensure you're getting the best deal.

3. Time Efficiency

   • Factor in the time required for gathering mortgage information independently.

   • Consider how much time you can realistically commit to researching and comparing rates on your own.

4. Cost-Effectiveness

   • Assess the long-term costs associated with different mortgage rates.

   • Remember that a lower rate today might not always be the best deal if it leads to higher costs later.

5. Refinancing Consideration

   • Be open to refinancing in a few years if the interest rate fluctuates and rises significantly.

   • Understand the process of refinancing and how it could benefit you.

6. Professional Assistance

   • Consider seeking help from a mortgage broker to save time and effort.

   • Mortgage brokers have access to a wide range of lenders and can help you find the best rate.

7. Understanding Special Circumstances

   • Take into account if your financial situation is unique (e.g., self-employed, irregular income).

   • Consider using a mortgage broker to help you navigate special financing options.

So, what exactly are mortgage brokers, and what do they do?

A mortgage broker is a trained and certified professional who helps home buyers find the best mortgage terms by accessing a network of lenders, including banks, trust companies, credit unions, finance companies, and local lenders.

The primary value a mortgage broker brings to the decision-making process is their ability to save the buyer money. Typically, brokers do not charge fees for their services, as they are paid commissions by the lenders. These commissions typically range from 0.5% to 1.25% of the mortgage (and in some cases, may be even higher). In addition, brokers are motivated to find the best deal for their clients, ensuring that they secure the best possible rate and ultimately save money.

A mortgage broker also eliminates the hassle of contacting various financial institutions to find the best offer, a process that, as the statistics mentioned earlier show, many people find so daunting that they skip it entirely.

One of the most important scenarios in which home buyers should strongly consider using a mortgage broker is when their financial circumstances are unique — for example, if they are self-employed. In these cases, brokers can access specialized financial institutions or private funds that are better equipped to meet those specific needs.

Ultimately, it is up to the mortgage seekers to decide whether they want to use a mortgage broker or handle the search for a home loan on their own. However, when it comes to cost- and time-effectiveness, as well as handling special circumstances, brokers have proven to be the better choice in most cases. Their services offer a variety of advantages, often without any fees to the client.