If you are in the market for a new home or are interested in investing in any type of real estate, then there is a good chance you have already overwhelmed yourself with the loan application process. A process that, at times, can be tedious and somewhat confusing.
So, what do you do?
Maybe you have heard of a mortgage broker – or maybe not. Either way, this is your answer. A mortgage broker will help you to secure a loan that fits your situation and goals without having to put in the work.
As with anything, don’t just choose anyone. Here’s how to find a good mortgage broker so you get the best results.
What is a Mortgage Broker?
A mortgage broker is like a middleman between you and your future lender. They take on the role of looking at the different mortgage options and comparing them based on your needs. They handle all the applications, document collection, pulling of your credit history, and so forth. They will even negotiate terms for you.
This is all done in a short time period – especially when compared to doing it yourself.
A mortgage broker will take the time to get to know you and what your needs and hopes are for the new loan. For instance, knowing what your short-term and long-term goals are can help them determine the best route for securing the perfect loan.
It is worth noting that a mortgage broker is licensed and regulated by the federal government.
Benefits of Using a Mortgage Broker
If you are on the fence about using a mortgage broker, you may want to just go ahead and take the leap. Mortgage brokers have a lot to offer those who are looking to buy a new home or invest in property, including:
Mortgage Options
When you work with a broker, you have options. They provide you with access to various types of loans through many different lenders. You are then able to find the loan that works for you – along with the best interest rate, too.
Time-Saving
If you have ever filled out a loan application just to get denied, then you know how easily you can waste time in the home-buying process. With a mortgage broker, you fill out one form and can apply to multiple loans all at once.
Find the Best Loan Offer
When you get your approvals, your mortgage broker will go ahead and compare them for you so that you can easily see all the important details of the loan offers and choose the one that benefits you most.
Access to Expert Advice
A Mortgage Broker, such as Option Funding, Inc., can help identify which loan program is best suited for you and can also be a great source of information. They can answer any questions you may have, explaining to you what various terms mean, what closing costs are, etc.
Tips for Finding a Good Mortgage Broker
To find a good mortgage broker, you are going to want to do your due diligence. Remember, this is the individual that is going to help you to secure a large loan to purchase real estate. Therefore, you want it to be someone, such as Ahmad Azizi, who is going to take into consideration your current and future situations, your goals, your limitations, and so on.
Ask Locally
If you are using a real estate agent, you can always ask for recommendations for mortgage brokers. Friends, family, colleagues, and neighbors are also great potential sources of information when it comes to finding a mortgage broker. Ask around and see if anyone has any referrals in mind – and be sure to ask about their experience, too.
Do a Smart Online Search
Take some time to look online and see if you find a mortgage broker that meets your needs. Just be sure to do your research first. Be sure to confirm their licensing and check out their reviews, testimonials, etc. The more you search, the more information you will find, and will be able to make an informed decision.
Meet With Potential Mortgage Brokers
It is always a good idea to meet with the mortgage broker before deciding to move forward. Keeping in mind the large role they are going to play in your home-buying process will convince you just how important this step is.
Put together a list of questions, such as:
- How many lenders do you work with?
- Do you think you can get me a loan like I am looking for?
- Have you ever worked with borrowers in my situation?
- How much do you charge?
Choose Your Broker
Based on the answers you get and the comfort of the interaction, you can decide which mortgage broker you believe to be the best fit for you.
Mortgage Options at Option Funding, Inc.
If you have a dream of buying a new home, you are going to need a mortgage. At Option Funding, Inc, we are BOTH a Direct Lender and Mortgage Broker. Therefore, Ahmad Azizi can help identify the best lender for your situation. This gives him the ability to close 95% – 100% of deals that come his way because he can offer a multitude of loan and mortgage products. By working with Ahmad Azizi you’ll have access to multiple lenders. This can give you more flexibility, especially if your circumstances mean that you don’t fit into a category typically recognized by lenders.
By the time you close on your new property, you will not only feel good about moving into the home you’ve always wanted, but you can feel good about your loan, too.
To see what your options are, contact Ahmad today!