How to Find the Best Mortgage Broker

The top mortgage lenders is the one who delivers exceptional home loan services to their clients. This includes making sure they are responsive and professional throughout the entire process.

Can a mortgage broker give a mortgage in principle?

They communicate effectively with borrowers, explaining industry and regulatory phrases and what documents are necessary to get approved for a mortgage. They also know how to request employment verifications, pay stubs and credit histories and explain what those details mean.

A broker’s job is to shop for mortgages with lenders, and they are typically paid a commission on the loan amount that they secure for their clients. This is usually a fee between 1 percent and 2 percent of the loan principal.

Working with a mortgage broker can help you save time on price shopping, but make sure you still do your own research to ensure you’re getting the best loan offer possible. Many brokers work with a wide range of lenders, so it’s worth asking them about the types of products they’re able to find for their clients.

In fact, mortgage brokers have the ability to ask lenders to waive fees that you might not be able to get waived on your own. They can also ask for lenders to offer you more competitive rates if you’re a first-time homebuyer.

It’s also a good idea to work with someone who can see you face to face and/or have been recommended by your real estate agent. You can also get referrals from friends and family who have used a mortgage broker in the past.