Do you remember those funny lending tree commercials? No well let me help with that..
Well a mortgage broker does just that giving you mortgage options. Think about like shopping for a vehicle if you go to a dealer that only has Honda you are unable to comparison shop for car specifications that are most important or even best for you.
A mortgage broker is a professional who is paid by the Bank to help them write mortgages, which means this service is free to you and totally beneficial. I have seem so many transactions fail or even worse people forfeit their deposit because they couldn't obtain financing.
1. Because they specialize in mortgages and are only compensated when you are successful this has tremendous benefits to you.
2. Weighing all your options when shopping for a mortgage is very important as the wrong decision could have a major effect on your long term financial goals. A broker can make application for you to multiple institutions simultaneously.
3. Not every mortgage representative is the same, a mortgage broker has developed relationships with the most aggressive and efficient mortgage reps from every institution.
4. Sometimes it's all in the packaging, meaning that their knowledge of the industry and what makes a bank favorably consider an applicant is someone you want on your side.
The close ties of real estate and lending is why we saw it fit to have an in-house mortgage broker team at 1 OAK Bahamas. Having them in office has lead to millions of dollars of successful mortgages and many happy families.
If you are buying you should definitely consider using our guy Keith Albury to help you get it done. He's always open to people calling for help or just for info, here are his contacts below for your use.
B. Keith Albury CFP,