Mortgage Brokers
Why Use a Mortgage Broker?Finding the right home may seem like the hard part of the real estate transaction, but in reality, getting the best financing can be much harder. This is partially because there are so many options nowadays for mortgage loans that it is easy to be confused as to what a program means and where to find it. A Mortgage Broker provides you with the service of connecting you with the right program and can often secure better mortgage terms for you than you could get for yourself.
For example, a Mortgage Broker will know which lender to go with to the secure better financing based on your particular loan structure. Some lenders have better rates only when you put 20% down while another may be competitive with only 10% down. It is rare to find one lender that has the best rate for every scenario, even for those that have excellent credit. Another benefit is the Broker’s expertise in structuring a mortgage loan as well as negotiating with the various lenders. Most people who are shopping for a mortgage loan don’t really consider the options available on the market today simply because they may not even know they exist.
Another reason to use a Mortgage Broker is because they get wholesale mortgage rates from the nations leading mortgage lenders. Did you know that most lenders would charge the same or even more than a mortgage broker for originating a mortgage loan? If you work with a quality Broker, they will pass on the wholesale mortgage rates to you. Not all brokers are “experienced” or “good” however. Many of them simply don’t have the know how and get by on simply selling you whatever product they can. Interview your Broker by asking them how many lenders they have, what programs exist and what services they offer. If you feel comfortable with them, chances are you have found an experienced and reputable firm. So, a good Mortgage Broker will:
- Find the best product to fit your circumstances
- Counsel you on the mortgage alternatives
- Get the best rate for the program you want
- Negotiate directly on your behalf
- Work with all parties involved in your transaction
- Answer all your questions
- Stay in contact with you until closing, and beyond closing.
You have the right to know all the facts. Don’t go anywhere else and risk paying more and getting less. Call an experienced Mortgage Broker. Call the number below.
Katherine Albano is the Sales Manager and Senior Loan Officer at Riverview Mortgage Corp. For any questions regarding mortgages, please call Kathy at 585-321-0020 ext. 211 or 585-303-3274. Or e-mail her at kathyalbano@frontiernet.net
Riverview Mortgage is a Registered New York State Mortgage Broker with the NYS Banking Department. Loans arranged through Third Party Lenders.