What Is a Mortgage Broker?
A mortgage broker is a licensed mortgage loan professional who acts as an intermediary between a borrower and a lender during the mortgage loan process. A mortgage broker works directly for borrowers to offer them a variety of mortgage loan options from numerous banks. Mortgage brokers further assist with paperwork, deadlines, and other loan requirements throughout the loan application and closing process.
As a borrower, you can consider your broker to be your personal guide through the mortgage loan process.
- Can a Mortgage Broker Offer FHA, VA, or USDA Loans?
- Are Mortgage Brokers Connected to the Financial Crisis?
- Can a Mortgage Broker Offer Jumbo Loans?
- What Are the Limitations of Using a Mortgage Broker?
- Will Using a Mortgage Broker Save Me Money?
- How Can I Find a Mortgage Broker?
- Do I Communicate with the Lender While Using a Mortgage Broker?
- What Will a Mortgage Broker Need from Me?
- Who Pays the Mortgage Broker?
- How Do Mortgage Brokers Find and Select Mortgage Loans?
- How Should I Prepare Before Meeting with a Mortgage Broker?
- What Are Some Questions I Should Ask a Potential Mortgage Broker?
- What Happens If My Loan Is Declined When I Use a Mortgage Broker?