Reasons WHY you shouldn’t use a Mortgage Broker

Why would I, as a Mortgage professional, post an article with this title?  The truth is, I want to grab your attention.  There actually aren’t any reasons that come to mind.  As a matter of fact, there are countless benefits to having someone else negotiate your mortgage for you. Plus, a consultation is always FREE!!!!

Having the personalized service is without a doubt the number one reason to enlist the help of a mortgage professional.  This service goes beyond getting the “Best” rate available.  This is obviously a very important factor however should not be the only influence.  Certainly we can always look for the best rate but sometimes the features and benefits available outweigh a slight rate variance.  For example, some lenders may have flexible pre-payment privileges and that may be a priority for some people.  The ability to make additional payments can put you further ahead in the long run even if the rate is slightly higher.  You may be someone who’s main concern is to get the lowest rate possible.  This may lead you to a lender that does not have as many perks as a “bricks and mortar” institution.  In this day and age many people are preferring virtual banks and these companies often come with lower rates. It is always your decision as to how you want your mortgage structured.  Our job is to act as the middle man between you and the lender.  There are a vast number of options available which can become overwhelming. Banks are always launching innovative products so why not let someone do the research for you. After all, our lives are busy enough with work, kids, maintaining a home and trying to have a healthy work life balance. Another advantage is that you don’t have to work around banking hours. Your mortgage specialist will work around you, whether it’s in between your kids activities, during a lunch break, or even a lazy Sunday afternoon.

They will have your “best interest” in mind and understand that timing is critical especially in a purchase situation. Credit policies can be different from lender to lender and a well-informed mortgage expert will save you time when it matters most. You deserve AND you should expect prompt, efficient service. It is extremely important to do your research and make sure you choose someone you are 100% comfortable with. Read reviews, call and ask as many questions as you want and make sure they are the right fit for you. After all, it is your money and ultimately your financial future.