What is a Mortgage Broker?

Published On: March 14, 2018|Categories: Blog|Tags: , , , |

What is a Mortgage Broker

If you’re buying a home for sale in Riverview, you’ll most likely need a mortgage loan to purchase – most people do.

But where do you even start shopping for a lender?

Where to Find a Lender

For many people, working with a mortgage broker is the solution to finding a lender that offers the best terms and rates.

What is a Mortgage Broker?

A broker works for a borrower with several banks to find the best lenders for that borower’s needs. A broker isn’t the same as a loan officer; the broker only connects you with lenders who can meet your needs based on your credit, the type of loan product you want and how much money you have to put down.

Mortgage brokers are the intermediary between lenders and borrowers, and they get paid by charging origination or broker fees, which you have to pay at closing.

Mortgage brokers do all the comparison-shopping for you, which can save you time (and sometimes money).

Are You Buying a Home in Riverview?

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When you’re ready, call us at 813-961-6000. We’ll help you find the right home for your needs!