When you are shopping for a house more than likely you are about to make one of the largest purchases in your lifetime. Chances are you are using a realtor to help you shop. They are experts working for you to find you a house that suits your needs and they will help you to negotiate for the best price on the house. If you are refinancing you will want to make sure your investment is protected and that you will not be paying more than you have to.
This is what a mortgage broker will do for you:
They will analyze your short term and long term goals and match them to a product that best suits you needs. They will do all the leg work for you, gather the financial information, documentation, coordinate with your realtor and lawyer to make the transaction as smooth as possible.
There are many lenders out there with hundreds of products to offer each with their on rates, terms, features and benefits. A mortgage broker has access to almost all of them. There are some mortgage lenders in the market place with some of the best products that deal almost exclusively with mortgage brokers. When you deal with a bank you are dealing with an employee of the bank that has the banks interests in mind when they are offering you products and rates. If your bank happens to offer the best product to suite your needs then your mortgage broker can negotiate the best rate for you.
Mortgage brokers are paid based on the size of the mortgage not the rate they get you and they work for you not the lenders therefore they will always be looking out for your interests. In almost all cases a mortgage broker is paid by the lender so there is no cost to you to have the benefit of their expertise and knowledge.
If you are thinking about purchasing a home, refinancing you current mortgage, a debt consolidation, or a home equity loan, please contact us for a free no-obligation review of all your mortgage options. To learn more about our services you can also visit our main site: http://www.larryarnason.com