Mortgage Broker: More than Just Numbers

When people talk about my job as a "mortgage sales" profession, it sparks an interesting conversation. For those navigating the maze of mortgage options while buying a home, it's crucial to understand the true role of a mortgage broker.

In the past, getting a mortgage meant visiting your local bank. The big four banks—JP Morgan, Bank of America, Citigroup, and Wells Fargo—were the go-to for many, presumed to offer the best rates. However, post-2009 market crash and subsequent reforms, securing a mortgage from these giants became arduous and, in some cases, impossible.

Having worked at a big bank, I experienced firsthand the challenges within the traditional bank mortgage process. The stringent guidelines made the process tedious and time-consuming.

This led to a surge in demand for alternative channels, notably the Broker model. What drew me to this model was the freedom it offered to look beyond standard bank programs. I could now prioritize my clients, tailoring loan options to their specific needs. No longer bound by rigid bank policies, I gained control over the loan process, ensuring a smoother and quicker experience, especially for clients who didn't fit the bank's mold.

The advantages of working with a Mortgage Broker are significant:

• Expert Guidance: I match clients with the right loan program based on their financial situation, offering vital professional advice in today's complex real estate landscape.
• Comparison Shopping: I save borrowers time and effort by instantly comparing loan options and rates from various lenders.
• Time, Effort, and Money Savings: I can often secure better rates than banks while efficiently managing paperwork, communicating with lenders, and coordinating the entire transaction.

If you need financial advice for your primary residence, an investment property, or tapping into home equity, don't hesitate to reach out.

Warm regards, 

Steve