Stay in the know.
They do the work for you.
Sit back and relax! Mortgage Brokers have contact with a huge variety of lenders, some that you may not have even thought about. You could certainly call up a bunch of lenders and compare their terms and rates on your own, but why not let a professional do that? The Mortgage Broker does this for a living. They learn the market trends and they stay on top of the numbers. They are going to be able to get the best deal for you personally, deals that you may not otherwise had known about.
They could save you fees.
There are many fees that are involved when taking on a new mortgage, like origination fees, application fees, and appraisal fees. In some cases, brokers may be able to get lenders to waive some or all of those fees and save you a good bit of money.
That personal touch.
More often than not you will have the direct number to the broker that you are working with and can call and speak to them at your convenience. With a bank you will often be “passed off” to a processing center once you have submitted your original application. This can be frustrating as you will have to speak with numerous people every time you need to contact the bank, explaining who you are and your individual situation over and over again. With a mortgage company like Mortgage Options, you have a personal relationship with one individual that is always there to assist you.
On time closings.
That personal touch is more than just a warm fuzzy feeling. It means that there is someone taking a personal responsibility for your transaction and they are held accountable for getting you to the closing table on-time.