|
- Why Use A Mortgage Broker?
-
A mortgage broker is an independent real estate financing professional who specializes in the
origination of residential and/or
commercial mortgages.
Mortgage brokers have the ability to obtain the
best possible rate for your situation by
shopping all approved lenders. Since the broker
works with many different national lenders they
are not forced to recommend one set of loan
programs to you but can seek out many different
options that are offered.
Brokers do the loan shopping for you.
When you apply for a
loan with a mortgage broker you are effectively
applying for a loan with all the lenders the
mortgage broker is approved with.
Mortgage brokers obtain rates at wholesale.
It costs no more to do business with a mortgage
broker.
In fact independent surveys have shown that in
many cases the fees charged by a broker are less
and the interest rate obtained is lower than if
the borrower went directly to the lender. Mortgage
brokers work on a contingency basis. They are
not compensated until the loan closes. (Be
aware. Some mortgage brokers charge a
non-refundable up-front application fee. We do
not.)
When working with a mortgage broker only one credit
report is used. If you were to apply to multiple
lending institutions for a mortgage, each lender
would do a credit check. This may lower your
credit
score. A lower credit score could mean
you may not qualify for the best interest rate
possible with any lender.
A mortgage broker deals exclusively with mortgages.
By combining professional expertise with access
to many different wholesale lenders and hundreds of
loan products, a broker provides consumers the most
efficient and cost-effective method of offering home
financing options while still providing
individualized attention
tailored to the consumer's
needs and wants.
A mortgage broker represents you in obtaining
financing that best fits your
specific financial goals.
We are licensed by the State of North Carolina Department
of Banking and Finance and we are members of the
National Association of Mortgage Brokers,
the
Georgia
Association of Mortgage Brokers
and the
National Association of
Professional Mortgage Women. We strive to
uphold the high level of ethical conduct that these
associations promote.
|
