Why would you want to use a broker for your home loan? It would be easy to just run to your nearest bank or credit union. But this may not be the best way to get a loan that is created just for you.
Like everything else, there are good loans and bad loans. Lenders are really investors in your home. They want to make the most money for their investment, with the safest return. When giving a loan, they are more concerned with their own interest in the loan than you or your needs.
A mortgage broker is different. They are a personal loan shopper for your home loan. Because they are not the lender, there is no conflict of interest in getting you the loan that is looking out for you. Think of them as the glue that holds the process together without ripping at the edges.
It is the job of the broker to verify your financial information, run the numbers, and understand your needs. Then, they can go out and look at all of the options that you qualify for to find the best loan, at the best interest rate, with the lowest closing costs.
If you have special needs before qualifying for your loan, such as information on your credit report and repairs that you can make to improve it, they will be there for you. They can refer you to a specialist in credit repair, set up your private mortgage insurance, and so much more.
The brokers at Integrity First are not only knowledgeable about the loans that are currently on the market, but they have taken the time to specialize in specific types of loans. It is our mission to know the best interest rates for every type of loan. They will help you determine if an FHA loan or conventional loan is best. What if you are a veteran that is looking to own your first home? They’ll help you navigate a VA loan. They will help you get all of your paperwork in order, saving you time and frustration.
Getting a mortgage can be a very time-consuming process. When you let a broker do the heavy lifting and point you in the correct direction, you can save time and money navigating the mortgage process.