Why You Should Use a Mortgage Broker


Engaging a mortgage broker is probably one of the easiest steps in the home-buying process, and a step that will simplify your life a great deal. And yet, many are unaware of what mortgage brokers do and how they can help you safe big.

1. Lower interest rates

When we look at bank loans, one thing that definitely strikes out to us is that magical number – the interest rate. With so many banks and different types of loan packages out there, it is too tedious of a task to find out the interest rates of each individual bank out there. Even with the same interest rate, there are other factors such as the type of interest rate and lock-in period that come into play in determining how much you are paying for your loan. With a mortgage broker, you can be assured of getting the best interest rates that suit your needs.

2. Gain access to exclusive rates

Lower interest rate is one thing, getting lower interest rates that are only available to mortgage brokers is another. Mortgage brokers have relationships with many banks and are offered exclusive rates that are not advertised widely. By engaging a mortgage broker, you too, will gain access to these rates.

3. A dedicated advisor for all house-related matters

A mortgage broker is well-versed in many aspects of the home-buying process and can help you connect the dots. More importantly, a mortgage broker has your best interest at heart. As compared to a mortgage specialist at a bank that has vested interest in selling their product, a mortgage broker is impartial and only thinks about your best interest. Unsure about anything? Just ask your mortgage broker.

4. Wealth of experience

Mortgage brokers have handled many cases, from absolutely ordinary ones to the most unique ones. As such, they are well-equipped to tackle your specific case and help you obtain the mortgage loan you need. Their wealth of experience also means they will be able to provide you with insights and forecasts that you yourself may not have even thought about.

5. It’s free

That’s right, it’s free. If the above four reasons don’t convince you already, then this reason is sure to convince you. Evidently, there are only benefits to be gained and nothing to lose. With a trusted mortgage broker, you can be assured that you are in good hands and getting the best deal for your dream house.

Still considering? Contact a trusted mortgage broker now to learn more.