Homestead Mortgage, LLC
1600 Falmouth Road, Suite 2
Centerville, MA 02632
Banks VS Brokers
We're brokers, we're better!
For many homebuyers, a real estate agent is the first person they connect within the home buying process. While they look to their agent for help in finding their dream home, they will also have questions about how to afford it. That’s where an independent mortgage broker comes in.
Independent mortgage brokers are expert entrepreneurs rooted in the local community who can offer guidance to you and your buyers throughout the entire home buying process.
In a recent study conducted by United Wholesale Mortgage, 90% of real estate agents who worked with an independent mortgage broker would recommend one to their buyers in the future. Here are just a few reasons to partner with a local mortgage broker instead of a big bank or mega retail lender.
PERK 1: GET PAID FASTER
Obtaining a mortgage through a big bank or mega retail lender can result in weeks or months of back and forth because the buyer must fit into one set of turn-times, guidelines and limited product options. But not with an independent mortgage broker! They gather all of your buyer’s necessary paperwork and work directly with the mortgage lender who best fits your buyer’s needs throughout the entire process. While most other lenders have 45 to 60-day average turn-times, mortgage brokers can typically close a loan in 15 days or less; which means you get paid faster!
PERK 2: MORE LOAN OPTIONS
Since independent mortgage brokers aren’t tied to any one lender, they can shop around with multiple lenders to find the best loan product and rate for your buyer’s needs. This is a key advantage as it allows the mortgage broker to compare wholesale rates from a variety of lenders to ensure the borrower gets a lower monthly payment for their specific circumstance. That’s right – a lower monthly payment!
PERK 3: SUPERIOR TECHNOLOGY
In this digital age, society demands quick and efficient processes. The same goes with purchasing a home – buyers and real estate agents desire a smooth and easy process from the initial mortgage application through closing. Independent mortgage brokers can offer superior technology that allows your buyers to apply online and track their loan throughout the entire process. These revolutionary platforms create a transparent look into the loan process, allowing clear communication among all parties.
PERK 4: BETTER CLIENT EXPERIENCE
Hate that you and your buyer can only get ahold of your banker between 9 AM and 5 PM, Monday through Friday? Independent mortgage brokers go the extra mile for their clients. They are flexible, allowing you to schedule appointments at times and locations that are most convenient for you and your buyers. Mortgage brokers don’t look at you or your client as a transaction; they look to build a relationship, offering one-on-one attention throughout the entire loan process.
All these benefits are just the beginning. A mortgage broker is your buyer’s advocate, representing their best interests from day one. A local mortgage broker should also be your number one choice for a business partner. - Article Sourced from HousingWire.