Finance Globe

U.S. financial and economic topics from several finance writers.
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How to Find a Mortgage Broker you can Trust

There is a lot that goes into buying a home. For many, this includes securing a mortgage. While this sounds simple enough, being that there are hundreds of lenders to choose from, there are many details to focus on along the way.

Rather than contact one lender after the next, you can save a lot of time by consulting with a mortgage broker.

The problem with this is simple: you never know if your broker has your best interest in mind. To protect yourself, here are three steps that will allow you to find a broker you can trust:

1. Ask your real estate agent for help. Most agents have a relationship with at least one reputable mortgage broker. If you trust your agent you can rely on his or her advice when it comes to securing a mortgage.

2. Use the internet to your advantage. In today’s world, there are more online reviews than ever before. It only takes a few minutes to read through these before contacting a broker.

If a broker has perfect reviews from a large number of customers in your area, you can trust that they will provide you with the same service. On the flipside, if a broker has many poor reviews, it should raise a red flag.

3. Sit down for a meet and greet. Don’t feel obligated to work with a person just because you meet in person or speak on the phone. You have the right to ask questions and get a feel for the broker. If you don’t trust the person for any reason it is best to move on.

With this advice guiding you, there is a better chance you will find a mortgage broker you can trust. Once you have a broker on your side, it won’t be long before you settle on the lender offering the lowest rate and best overall terms and conditions.
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Thursday, 17 October 2019

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