3 Reasons to Work with a Mortgage Broker

Posted by wadmin on Thursday, January 17, 2019

Stone Bridge Mortgage Group_What Exactly Is A Mortgage Broker

Finding the right mortgage is a time-consuming, sometimes stressful process. Thankfully, it is a process you don’t have to go through alone – nor should you! Hiring a mortgage broker will save you leg-work and assure you have someone with the knowledge and experience necessary to get you the best mortgage possible.

WHY HIRE A MORTGAGE BROKER?

Here are a few benefits to hiring a mortgage broker:

You save more money. Brokers can shop dozens of lenders to get you the best pricing. Often, mortgage brokers get better rates than lenders are likely to give to a consumer who comes directly to them. Brokers are legally required to disclose his compensation in writing, while a bank is not. Brokers under federal rules must be licensed and cannot tie their pay to the interest rate you receive from a lender. In other words, working with a broker doesn’t ordinarily make your loan more expensive.

You can find more loan options. Mortgage brokers are aware of a wide variety of loan types. A mortgage broker can use their experience to find the right lender for your specific needs. Some lenders may specializes in particular property types, or have more flexibility with credit scores or down payment amounts – and your mortgage broker can help you find those lenders.

You save time. Rather than having to shift through all of the options for lenders yourself, your mortgage broker does all the leg work. For example, if you shop on your own and a bank turns you down, you have to start all over. If your broker is turned down, they can move on and take your file to another lender. Brokers may also have access to private lenders who you might not have access to on your own. Private lenders, which include nonbank mortgage companies and individuals, can make loans to borrowers in unconventional situations that banks can’t or won’t because of regulations or internal policy.

When your future home is on the line, it’s best to have someone with knowledge and experience on your side. Hiring a professional mortgage broker can make all the difference when shopping for the right mortgage rate.

For a professional assistance with mortgages, look no further than Stonebridge Mortgage Group. You can rely on Stonebridge Mortgage Group to help guide you through the home buying process. We help get you pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are in Gresham, Oregon. Don’t wait to get the professional guidance you can trust when it comes to buying your home!

Call us today at 503.661.5580.

 

 

Categories: Home Buying Tips, mortgage broker, mortgage loans

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