Why Brokers are Better
When you're buying a home, there are many things to think about. You need to start with getting prequalified to buy a home, find a great realtor, and start shopping for your dream home!
The homebuying process can be a lot to manage on your own, and the first step many prospective home buyers take is getting prequalified to buy a home. Often buyers think that speaking with their bank's mortgage department or a mortgage lender is the best option for their home financing.
And while this is a viable option, I am here to tell you that that’s not the only option. Or even the best option for you.
Mortgage Brokers are here to help!
As a Mortgage Broker, I can help guide you through the home buying process, finding the right mortgage and getting you the lowest costs and best rate available.
What Is a Mortgage Broker?
As a Mortgage Broker, I am your personal shopper. I work with over 40 lenders, and I find the best fit for you and your unique financial situation.
I save you time and money while guiding you through the home buying experience. My goal is to make this exciting time a happy experience for you and your family. Big banks and mortgage lenders only sell their loan products, and they do not check around to find the best loan for you.
Why Are Brokers Better for Buyers?
As a Mortgage Broker, I work with wholesale mortgage lenders, saving you money.
Many of these wholesale lenders do not work with any big banks or mortgage lenders, nor do they provide consumer-direct mortgages. This means I have options that are not available to just any lender.
As a Mortgage Broker, my rates and costs are often lower on the wholesale side versus the retail side of a mortgage bank or lender.
Imagine the costs of having a brick-and-mortar mortgage bank or lender. They have lots of overhead and costs, which are paid for by you – the consumer. Wholesale rates are lower because there are not all of these added expenses like retail lenders.
When working with a big bank or mortgage lender, you can be charged all kinds of fees that help them in their operations. These are processing, underwriting, and document fees that you pay.
As a broker, I do not have these fees. The only fees are 3rd party fees like credit, appraisal, title, escrow, and flood certs.
You will have these fees plus all junk fees if you choose to work with a big bank or mortgage lender. Brokers are better; we save you money!
Why You Should Get a Broker Right Now
- Rates are changing every day.
Rates are changing daily, sometimes two or three times a day. Rates are rising. Some days we are dropping, but I am seeing rates from 5-6%, depending on credit scores, down payment, and loan type.
Working with me means that I carefully monitor rates and ensure that you still qualify for the prequalified amount while you are out shopping for a home. In fact, working with me is even more critical now, as finding the best rate takes more time and work.
2. Brokers can supply custom options for you.
As an experienced Mortgage Broker, I look at your specific financial goals and help find the best mortgage for you. I have access to many lenders, which allows me to see who has the quickest closing times, lowest costs, and best rates to customize the perfect mortgage!
3. Brokers have access to new/different loan programs.
This is the crucial advantage of a mortgage broker. As a Broker I have loan programs that utilize bank deposits versus tax returns to calculate self-employed borrowers. I have investor loan products where only the rental income is used to qualify for the mortgage the list goes on and on.
Mindful Money is Here to Help You
Whether you’re a first-time home buyer or looking to refinance your home, you have a lot on your plate. You want to collaborate with a Mortgage Broker that can give you the best rates, the right terms, and the lowest closing costs as quickly and efficiently as possible.
As a seasoned mortgage broker with 19 years of experience, you can take a deep, cleansing yoga breath; that’s what I’m here for!
If you have any questions about the homebuying process or want to work with a mortgage broker, please don't hesitate to call me or email me at sam@mindfulmoneyusa.com!
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.