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Things to Know About Mortgage Broker

Are you looking for a licensed mortgage broker? Our new mortgage brokers can provide professional advice to help you find the best mortgage finance solutions. Before using a mortgage broker here are a few things you need to know. For more visit www.lavernecapital.com.au or call on 1800 883 007.

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Things to Know About Mortgage Broker

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  1. Things to know about Mortgage Broker

  2. What is a Mortgage Broker • Licensed and regulated financial professionals who act as a middleman between you and potential lenders

  3. Does not use his/her own funds to generate mortgages • Gathers paperwork from a borrower and passes that paperwork along to a mortgage lender for approval and underwriting • Lent with the name of the mortgage lender, and the mortgage broker gathers an origination fee from the lender as compensation for services

  4. Pros and Cons of Utilizing a Mortgage Broker • Pros: • Works on a borrower’s behalf to get the lowest available mortgage rates and/or the best loan programs through several lenders • Saves the time of borrower during the application process • Saves a large amount of money of borrower over the life of the loan

  5. If a loan originated through a broker is declined, the broker applies with another lender

  6. Cons: • The number of lenders a broker accesses varies by his approval to work with each lender • A borrower has right of entry to lenders the broker does not • A loan officer from a large bank may keep a borrower on hold for an extended period of time due to the officer’s working with few borrowers at once

  7. How to Choose a Right Mortgage Broker? • Ask friends and relatives for referrals • Learn all you can about the broker’s service, communication style, level of understanding and approach to clients • Another big source is your real estate agent • Some real estate organizations offer an in-house mortgage broker as part of their suite of services, but you’re not forced to go with that company or individual

  8. La Verne Capital Pty Ltd. Suite 7/104 Wigram Street, Harris Park NSW 21501800 883 007info@lavernecapital.com.auhttps://www.lavernecapital.com.au/ Contact Us

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