Question:

How to find a mortgage broker?

Answer:

Mortgage brokers are best to locate online or through referrals. If your friends went with a mortgage broker and are particularly satisfied with her, this may be a very good choice to make.

Should you find a mortgage broker in the first place?

If you have the time to shop loans yourself and you are confident about that, you may not need a home loan broker at all. However, if you are an inexperienced borrower, or don't have the time, you may be better off going to a mortgage broker. Just make sure they are of the trustworthy type first - talk to them, ask them if they disclose their markup and the wholesale prices, ask about how solid GFE numbers are.

Using an ethical mortgage broker (or a UMB) can save you money, time and provide you with the most suitable loan for you. It might turn out you qualify under special loan programs for discounted rate that only brokers could have told you about. If you are a subprime borrower, consider finding a mortgage broker with good reputation and you will be saving thousands.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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