Buying a home is an exciting time full of daydreaming about happy futures and scanning paint swatches. But it can also be a confusing and daunting process filled with jargon and a million sheets of paper for you to sign. You don’t know whether you’re getting the best deal or whether you even have any other options.
Having a mortgage loan broker on your side can make your mortgage process much easier. They’ll act as an advocate for you, making sure that the loan you pay on for the next three decades of your life is the best one available to you. Read on to learn more about the benefits of working with a mortgage loan broker.
One of the biggest benefits of working with a mortgage loan broker is that they can get you better rates on your loan. There are a lot of options out there for home loans, but trying to sort through them yourself can take far too long, become very confusing, and chances are you still won’t find the best deal you could get.
Mortgage brokers know their way around the lending world and can help you find the best deal available for you. They also have access to special programs that aren’t available to the public directly. And lenders can often roll fees into your closing costs to save you money upfront.
The Right Loan for You
In addition to finding the best rates for you, a good mortgage broker can also help you find a loan with terms that fit your needs. Most lenders are only selling loans from their company, and what they have to offer may not work well for you.
A mortgage broker shops around with different lenders for a loan that will best fit the terms you need. This can impact everything from whether you need to pay mortgage insurance to what sort of down payment you need to have. You want to be sure you’re getting a loan that’s best suited to your needs.
Too often, the mortgage industry tends to operate on a “one size fits all” mindset. The truth is that everyone’s financial situation is different, and everyone may need a slightly different approach to getting a mortgage. A mortgage loan broker can help you find customized solutions that work for your situation.
Your broker may be able to serve as a liaison between you and your lender to get you more flexibility with your closing time. They may also be able to cut you a break on credit issues or paperwork problems. Having this ability to customize your mortgage process can make buying a house much easier.
In addition to finding you the perfect loan and the lowest rates, some mortgage brokers can go above and beyond. There’s a lot that goes into getting a mortgage, including raising your credit score as much as possible and keeping up with all of the many steps of the lending process. If you’ve never bought a house before, it can be helpful to have someone guiding you through the process.
Your mortgage lender may be able to act as your guide through the mortgage process. They can help you figure out how to set up your escrow and keep you up to date on where your loan is. Some may even be able to help you do some basic credit repair to make sure you get the best possible deal on your mortgage.
Buying a house comes with a lot of jargon and terminology that the average person doesn’t understand. It can be hard to know if someone is trying to take advantage of you without studying up on the lingo. You may want someone there with you who you know is in your court, making sure you aren’t being techno-talked out of your money.
A mortgage broker can act as your advocate during the lending process. They understand all aspects of the mortgage process and won’t be fooled by a lot of fancy jargon or sneaky workarounds. They can break down every step of the process for you so you can feel comfortable knowing you got the best deal on your loan.
Trying to buy a house when you work full-time is hard. Many loan officers only work during business hours, which is, of course, when you’re working, too. And if your boss isn’t understanding, you could wind up in a tight spot at work trying to take time off to get your loan taken care of.
Mortgage brokers understand that most people aren’t available between 9 and 5. They can meet with you on a timeline that suits you. This can be after hours or on weekends – whatever works with your work schedule and childcare needs if you have them.
Discover the Benefits of Working with a Mortgage Loan Broker
Going through a mortgage process can be intimidating, especially if you feel like you don’t have anyone in your court. A mortgage loan broker can work with you to make sure you get the best deal possible and one that’s suited to your specific needs. They can help you improve your credit, translate what’s happening so you feel empowered in making your decisions, and meet with you on a schedule that works for you, making buying a house much more manageable for everyone.
If you’d like to start the process of getting a home, come see us at the Tammi Lindley Team. We are Portland’s premier mortgage lenders, offering hundreds of mortgage products so you can pick the mortgage that matches your needs. Contact us today and start the process of owning your dream home.