DO I NEED A MORTGAGE BROKER TO BUY A HOUSE?
There several reasons why a mortgage broker is helpful when buying a new home. The primary reason is greater loan options, but a mortgage broker can also save you time and effort as they can walk you through the lending process.
If you are unfamiliar with the role of a mortgage broker then the simplest definition is that of a bridge between borrowers and lenders. A mortgage broker uses their industry experience to funnel you towards the best mortgage loan that fits your needs.
A MORTGAGE BROKER OFFERS MORE OPTIONS
A mortgage broker does the loan shopping for you. Instead of getting the loan from one bank, a mortgage broker might find multiple options form different banks. Brokers also often establish relationships with banks; this can result in a shorter wait from your application to your loan approval.
BROKERS STUDY THE MORTGAGE INDUSTRY
This means that they might know of mortgage programs that might provide you with a lower interest rate or require lower down payments.
BROKERS OFFER CONVENIENCE
Mortgage brokers help you through each step of the financing process, from pre-approval to closing the loan. Not only that, but a mortgage broker acts as a liaison between you and all the other professionals involved in the mortgage process. This includes escrow officers, title companies, and others. A broker can help coordinate everything and work with your real estate agent for a desired outcome.
Stonebridge Mortgage Group can help you with you get pre-approved for a mortgage. We serve the greater Portland area and are in Gresham, Oregon.
Call us today at 503.661.5580