A professional mortgage broker originates, negotiates, and processes residential and commercial mortgage loans on behalf of the client. Below is a six point guide to the services you should be offered and the expectations you should have of a qualified mortgage broker:
1.
Offers Access to Hundreds of Loan Products
A mortgage broker offers a wide range of mortgage loans from a number of different lenders. The greater the broker’s experience and network, the better your opportunity to obtain the loan product and the interest rate that best suits your needs.
2.
Finds the Most Advantageous Deal
A mortgage broker represents your interests rather than the interests of a lending institution. They should act not only as your agent, but as a knowledgeable consultant and problem solver. With access to a wide range of mortgage products, a broker is able to offer you the greatest value in terms of interest rate, repayment amounts, and loan products. Mortgage brokers will interview you to identify your needs and your short and long term goals. Many situations demand more than the simple use of a 30 year, 15 year, or adjustable rate mortgage (ARM), so innovative mortgage strategies and sophisticated solutions are the advantage of working with an experienced mortgage broker.
3.
Has Flexibility & Expertise to Meet Your Needs
A mortgage broker navigates the client through any situation, handling the process and smoothing any bumps in the road along the way. For example, if borrowers have credit issues, the broker will know which lenders offer the best products to meet their needs. Borrowers who find they need larger loans than their bank will approve also benefit from a broker’s knowledge and ability to successfully obtain financing.
4.
Saves You Time
With a mortgage broker, you only need one application, rather than completing forms for each individual lender. Your mortgage broker can provide a formal comparison of any loans recommended, guiding you to the information that accurately portrays cost differences, with current rates, points, and closing costs for each loan reflected.
5.
Saves You Money with No Hidden Costs
A mortgage broker is offered loans on a wholesale basis from lenders, and therefore can offer the best rates available in the market, typically making the total loan cost lower for the client. A reputable mortgage broker will disclose how they are paid for their services, as well as detail the total costs for the loan.
6.
Delivers Personalized Service
Personalized service is the differentiating factor when selecting a mortgage broker. You should expect your mortgage broker to help smooth the way, be available to you, and advise you throughout the closing process. Check the qualifications and experience of the mortgage broker, ask for references, and rely on referrals from your attorney, accountant, real estate agent, or financial planner.
Please call us at 631.424.5100 for a free consultation.
“I am very thankful for Nick Racanelli's professional, responsive and honest assistance with the whole mortgage process from beginning to end. He made himself available to me via any method of my choice - email, business phone or cell phone, which I appreciated and took advantage of. Nick even stayed in touch with me during his vacation over the summer. I am grateful for all of Nick's work he devoted to my family's purchase of this home. ”
Ian Dunst Homeowner
“We would like to acknowledge the exceptional service that we received during the entire refinancing process. Nicholas Racanelli's professionalism and knowledge of the industry was impressive and truly appreciated. In the past, we have had experience with several others banks and have found the process frustrating and tedious. Nicholas went above and beyond to ensure that all of our needs were met and that everything was handled thoroughly and efficiently. We have and will continue to recommend him in the future.”
Rich & Sharon D'Andrea Homeowners
“Plain and simple, Nancy Hall is the nicest person and the best at what she does. We had a very bumpy road during our entire home buying process, due to circ*mstances out of Nancy's control. Nancy stayed on top of all parties to make sure everything stayed on track in order to meet our tight deadline to close. We appreciate everything she did for us and we highly recommend her to anyone looking to obtain financing. Thanks again Nancy!”
Mr. & Mrs. Hernandez Jr. Homeowners
“Nancy Hall is an exceptional mortgage broker. She kept us advised every step of the mortgage process, explaining the reason for every obscure document requested from us. Her manner was always friendly, and she was always available to answer every question we had. Previously, we had gone directly to banks for our mortgages. We don't believe that we will ever do that again as long as Nancy is around to assist in the process. We will strongly recommend Nancy to our friends in the future, and we will be certain to use her the next time we require new financing. She is remarkable and a five-star broker, and any organization should be proud to have her working for them. ”
Will Bratton and Sharyn Felder Homeowners
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