Many people forego a mortgage broker and decide to go through the application process on their own, but a mortgage professional can actually work to save you money when it comes to your biggest investment. Whether you’re new to the market and are looking for tips or are just a prospective buyer in need of advice, here are a few reasons you may want to consult a broker to make for an improved real estate investment.
Liaising With The Lender
If you go it alone without a lender, you may be able to find a good loan opportunity, but because a mortgage broker knows the ins and outs of the market, they may be able to assist you in acquiring a better deal. Since brokers have a business relationship and a history with many lenders, they will be able to get you in the door and perhaps broker a deal you would not have been able to find without them.
It’s A Free Service
Many people think that a broker adds even more expenditure to an already expensive investment, but mortgage brokers can you save you time and money in the long run. While this can be a financial boon on its own since you can tap into their knowledge and experience for free, it’s also worth realizing that the lender pays a broker and has a responsibility to them as well as you. It may be free, but it’s worth doing a little digging to find the professional that can best meet your needs.
Navigating The Application Process
For those who are new to the market, the paperwork and discussion around getting a mortgage can be a significant deterrent in putting money down. Since a mortgage broker is familiar with the process, they can help you compile the correct documentation and you can trust their knowledge of the process. While it’s important to do some of your own research about mortgage rates and lenders, a broker can help you save time and seal the deal.
Many people are hesitant to consult with a mortgage broker when it comes to their home purchase, but as a free service that can make the process a little clearer, it can be well worth the consultation. If you’re currently in the market for a home and are confused with all of the associated details, contact one of our mortgage professionals for more information.
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About the Author:
Babak Moghaddam graduated from University of Southern California in 1985. He entered the mortgage industry as a compliance auditor at the Bank of New York in 1986 and completed his masters in Business Administration two years later. After seventeen years in the traditional mortgage banking world Babak finally transformed this vision into his own practice in 2002 when he formed Charter Pacific Lending Corp, a mortgage company that has provided over $900 Million in residential real estate loans throughout Southern California. Babak and his team do things a little differently than other mortgage providers. They work as financial advisors, because they have come to realize that a mortgage is a very powerful financial tool. And just like any other financial tool, it should be managed as part of the overall financial management plan to reach every home owner’s long and short-term financial goals much faster. You can contact Babak for a free consultation and strategy session at (800) 322-1217 X103.