Real estate financing professionals (or more commonly known as mortgage brokers), are essential to your search for the best loans for your needs
By: Phoenix Lee/
What is a Real Estate Financing Professional?
A Mortgage Broker Defined
A Mortgage Broker is a real estate financing professional who, as their business, puts together a lender and a borrower. This is done after thoroughly reviewing the needs and capabilities of that borrower, the characteristics of the subject property and the various lending programs available from a wide range of lenders. This is done in compliance with and under the restrictions of all state and federal laws.
A Mortgage Broker’s Benefit to the Public
The loan program, which best suits a particular borrower, is not always evident when that borrower makes a loan application. Often a loan program, which at first looks as if it is a good match, may not be practical as the loan is processed and additional information about the borrower and/or property is received.
Lender loan programs and the rates inherent in each program often change on a daily basis. Using a Mortgage Broker allows the consumer the opportunity to go to a different lender if the original program, or its rates and/or fees have changed, or if the circumstances of the property borrower warrant changing. A real estate financing professional represents their client by accessing a multitude of lenders.
The Mortgage Broker may, therefore, offer their client greater flexibility through more varied programs than those which are offered through a single bank. As such, the Mortgage Broker Industry has enjoyed remarkable evolution and growth in Singapore.
Who are Real Estate Financing Professionals?
Finding a mortgage loan for your home can be confusing experience. With so many options to choose from, it can be difficult to find your way. That is why a Mortgage Broker is your number one source for a loan. A Mortgage Broker will guide you through the lending process, provide you with any help you need, and try to simplify the process. You will get the service and selection you want from a Mortgage Broker.
- Full-time residential real estate professionals.
- Experts at working through the mortgage lending process to save you time.
- Your representative to many lenders.
- Providers of loans that comply with industry standards and requirements.
- Specialists with competitive up-to-date loan rates.
- Resources of knowledge on current trends and terms in the industry.
Why Choose Real Estate Financing Professionals?
Mortgage brokers provide the consumers with:
The consumer receives an expert mentor through the complex mortgage lending process. The Mortgage Broker offers the consumer extensive choices and access to affordable home loans while balancing the consumer’s financial interests and goals.
- Their focus is to help you get your dream home through proper financing of you home purchase or refinance.
- They have a vested interest in satisfying your needs.
- They will select the best lender from our many sources to provide you with a loan that meets your individual needs.
- They have extensive knowledge of the many loan programs available and will take the time to fit your needs to the best loan.
- There is a loan for everyone, and they know how to find it.
- Because interest rates change daily, they can obtain a locked rate to insure that the rate being offered is available to you at the closing.
- They are motivated to keep the processing time to a minimum, so you are satisfied with our timely performance.
- Their position in the mortgage industry gives us a competitive edge allowing them to provide you with a loan that will benefit you the most with the lowest costs.
- As your personal Mortgage Brokers, they are happy to work with you to find the best loan for your home.
Your Real Estate Financing Professionals are the key to your new home or debt consolidation
Why use a Mortgage Broker?
Because using a Mortgage Broker can make a difference in the interest you pay, the points you are assessed, how difficult it is for you to qualify for a loan, the length of time it takes for your loan approval, and even whether or not you can get a loan.
If you had to do it yourself, where would you start? How many mortgage sources are you familiar with? How many of the hundreds of loan variations do you fully understand? Your real estate financing professionals can guide you through this potentially disastrous maze, and lead you to a lender and the loan that best fits your specific requirements.
(Too often, it is the other way around … you are minutely scrutinized by the lender to see if you fit their profile.)
There are, in fact, money sources who may only provide funding through Mortgage Brokers. Market conditions often dictate how “choosey” most lenders will be, what percentage of total income the lender will allow a mortgage to be, how large a down payment is required, how perfect your credit rating must be, and other such factors. Some unconventional sources known only to a Mortgage Broker may offer hope to prospective homeowners who are having difficulty qualifying with conventional lenders.
Finding a mortgage loan for your home can be a confusing experience. With so many options to choose from, it can be difficult to find your way. That is why real estate financing professionals are your number one source for a loan. A Mortgage Broker will guide you through the lending process, provide you with any help you need, and try to simplify the process.