A mortgage broker is a licensed professional who can help you navigate the home-buying process by connecting you to the right mortgage lender for you, based on your financial situation. Essentially, mortgage brokers act as a bridge between the homebuyer and lender.
There are several benefits to working with a mortgage broker and several things to keep in mind as you’re searching for one. See below for four benefits of using a mortgage broker.
4 Benefits of Using a Mortgage Broker
1. They offer a wide variety of loan options.
A major benefit of using a mortgage broker is the fact that they have access to multiple different home loans you wouldn’t have access to on your own. This is important because the broader range of access means they have a more significant opportunity to connect you with a lender that matches your specific needs.
2. They will pinpoint the best type of deal for your specific needs.
There’s no doubt that buying a home can be stressful, and mortgage brokers help to mitigate that burden by finding you the best loan option for you.
Everyone has different needs, and you may have a challenging financial situation – maybe you have less-than-perfect credit, or run your own business. A mortgage broker will tailor their searches so that they will benefit your long-term financial goals. For example, 1st Eagle Mortgage offers loans for as little as 3% down, even if you have declared bankruptcy, had a short sale or went into foreclosure.
3. They have the right expertise to help you through each step of the process.
Mortgage brokers are licensed professionals who know the ins and outs of the loan process and have the best knowledge on which loan and lender are right for you. For example, 1st Eagle Mortgage has over 20 years of experience, knows hundreds of lenders, and understands what types of loans will benefit different financial needs.
4. They can save you valuable time, energy and money.
Your home is one of the largest, if not the largest, purchase you’ll ever make. No pressure! Obviously, finding the right financial path for your needs is a critical, nerve-racking process.
Mortgage brokers will hold your hand through every step of the lender process and save you time and energy in the process. And since a mortgage broker is offered loans on a wholesale basis from lenders, they can offer the best rates in the market, which means a lower rate for their client.
Contact 1st Eagle Mortgage to Get the Help You Need Today.
At 1st Eagle Mortgage, we are here to help you realize your home buying dreams. We work closely with current and prospective property owners in the Chicagoland area to create tailor-made mortgages to meet their needs.
We work with a multitude of lenders to match you with the right loan, whether you’re a first-time homebuyer, upgrading to a larger home, downsizing, refinancing, or a commercial property owner. Our focus is on you, the customer. We understand that every customer’s situation is unique, and our staff of experienced loan officers considers all aspects of your financial life to customize the right mortgage program for you.