Question:

What are the advantages of an independent mortgage broker?

Answer:

If you are not shopping loans yourself, you'd better use an independent mortgage broker rather than your local bank loan officer. An independent mortgage broker will shop tens if not hundreds of lenders on your behalf as a client.

Independent brokers work for their customers satisfaction as they are committed to pass wholesale rates to borrowers and their remuneration depends on the commission from the lender and the borrower.

Advantages of Independent Mortgage Brokers

Local banks loan officers are limited to in-house loan programs with greater rate and term restrictions while independent mortgage brokers are able to shop literally hundreds of lenders to find the best custom loan for the borrower.

Independent mortgage brokers will most often be able to shop best rates, offer zero origination and discount points charges, and are able to personalize their service to the needs of their clients - be it by meeting clients during evenings or weekends, or provide professional advice on certain mortgage products, or create an effective debt consolidation plan.

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Common misspellings: mortage and morgage