There are many benefits for using a mortgage broker. One such benefit is that a mortgage broker only need to pull your credit report ONCE from all three bureaus and can work with many lenders with this one-time pull of your report. We do not have to submit multiple times and generate inquiries for each mortgage program we consider.  We are provided with underwriting guidelines for mortgage programs from lenders we have lending relationships with and even those we do not. We do preliminary underwriting of your loan before official submission, compare interest rates and terms and make recommendation for you. We are not limited to one bank or one lender. An experienced mortgage broker will submit your loan for an approval based on work done prior to submission although a true mortgage professionals know...there are no guarantees and the process is not over until you sign on the dotted line at closing.

There is nothing worse then pulling a credit report only to find out the consumer has pulled the credit report 25 times in an effort to "shop" their loan.  While looking for the best terms and programs are expected, the way you shop for your loan is just as important.

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