A mortgage broker is a licensed financial professional. With access to various lenders, mortgage brokers can help you compare different loans and lenders to find the best fit for your personal situation. Because mortgage professionals develop relationships with several lenders, they are able to provide you with information and connect you with lenders you may not even be aware of.
Brian Taylor, co-owner of New England Home Mortgage, explains “A mortgage transaction really is unlike any other type of financial dealing that you have. It’s important to have someone who is familiar with the territory.”
With lenders giving out quotes, it is possible to find a low interest rate and apply for a mortgage yourself. But working with a mortgage professional has advantages that go far beyond finding a lender.
With the purchase of a home being one of the most significant purchases you will make in your life, a home loan is not something you want to take a chance on. Taylor and Brian Faye, also co-owner of NEHM, explain that there are numerous options and factors to consider when taking out a mortgage. Of course, you need to find a lender, but you also need to decide the term of the loan, whether you want a fixed-rate or adjustable mortgage, and how much of a down payment you are going to put down.
“Getting all that information up front from mortgage professionals can drive you there. We will never tell you what to do. We will give you options, so you can make the best decision for you,” says Faye.
Have unbiased professionals explain all your options in detail helps you clearly understand what will work for your situation. Once you have made a decision, your mortgage broker will help fill out paperwork correctly, deal directly with the underwriters from the lender company, as well as the closing agent and your real estate agent. Your mortgage professional is there to guide you through the entire process, communicating with all parties to ensure your transaction is taken care of. This takes stress off of you as you go through the closing process on a home.
Everyone at NEHM wants to you to achieve the dream of buying a home. “We are big on home ownership, which is why we do what we do,” says Taylor. “It’s very important to share (mortgage) information with you. We look at our job as to provide all the information we can give you, so that you can make the best decision.”
Applying for a mortgage? Contact us today.