Why use a Mortgage Broker? Here is why...

Mortgage and Lending with Provadus Home Loans NMLS 1225539

With many lending sources going out of business everyday now, utilize a Mortgage Broker.  Ifone goes out of business, we have many other lending institutions to quickly work with.  As a mortgage broker, we work for our clients.  I am not saying bank loan officers do not, nevertheless, bank loan officers are employed by the financial institution. The benefit of using a Mortgage Broker is the fact that we have the ability to offer more mortgage products from a number of financial institutions & investors. Bank loan officers work for one bank, that means they can only offer their clients what their financial institution has to offer.  Mortgage Brokers do not work for one specific lender, and you are assured impartial advice. A Bank Specialist has limited number of their own financial products, and while there may be better mortgage products out in the market place they will do their best to sell you their own mortgage product.

We use our knowledge of the mortgage market to negotiate mortgage rates with lenders to get the best possible mortgage rates for the client. When you go see a Bank loan officer, commonly the mortgage negotiating is left up to the client.  For conventional mortgage financing, the services of the Mortgage Broker are generally provided at no cost to the client. Banks pay us for providing business.

Mortgage Brokers will exhaust every possible solution to approve their clients mortgage application to pre qualify them. Because we deal with so many different lenders, we have solutions for new foreign nationals, clients who are self employed, and clients with poor credit history.  We also provide personal service, usually at times convenient for their clients - late evening & weekends -Mortgage Brokers are not restricted in seeing clients within certain business hours.

Simply stated, we are customer focused, as I rely on referrals from previous clients and agents to provide future business.

Comments (3)

Leo Namiot - LeoLends.com
Canopy Mortgage - Leo Namiot - Saint Augustine, FL
More than just great rates
Very true, I worked for AHm for 3+ yrs and loved them, I thought they were solid, I went to Wells Fargo and hated it! The thing that was missing from both was the abilty to broker loans, I joined Benchmark Mortgage for a number of reasons and one being that I can broker for any reason at all, and have the banking of a mortgage bank so closing in-house loans and brokering....wow the best of both worlds!
Aug 09, 2007 02:32 PM
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500
I think the world likes mortgage brokers...but there is an unpredictability in working with them.  How experienced are they, do they really know the investors, underwriting, and the actual lenders in the loan programs, and what kind of hidden fees are going to come up.  I know the mortgage broker doesn't always have control over some bogus junk underwriting fees - however, it makes it hard to get to know them and trust them.   The only ones that I recommend are the ones that I've had personal experience with on several deals and can see their performance - then I'll recommend them.  But even the best can't control things as well as the lending institution.
Aug 09, 2007 02:37 PM
» Bill Burress Nationwide Mortgage Originator
» Bill Burress Nationwide Mortgage Originator - Fort Myers, FL


Thank you for extolling the benefits of using a mortgage broker.

Aug 09, 2007 02:57 PM