Borrowers may find the mortgage market challenging to navigate. However, if you are with a reputable broker who can guide you through the loan application process, your chances of getting a better deal are bigger. Indeed, your goal should be to find the best out of the available options for home loans in Tucson. With that, here are some green flags that can help you make an informed decision:
Your broker wants to know you better. If a mortgage broker shows interest in not just the information needed for the application requirement but the bigger picture – your long-term plan – then you are highly likely to get the best deal on home loans in Tucson. A highly qualified mortgage professional wants to know your long-term plan because he clearly understands your mortgage application can impact your life in the long run.
Transparent in explaining how they get paid. Another sign you are with a reputable broker is that they explain how exactly they will earn. They are honest about the charges and let you know early on – no hidden or surprising costs later. They are not afraid to answer questions regarding payment.
They have a comprehensive list of lenders. Two reasons they have an extensive list of lenders: (1) because lenders trust them and want inclusions; (2) the mortgage company has more than enough people to research the best lenders available for you.
They get good feedback. If a mortgage broker has received more positive feedback than negative ones, that is a green flag, indicating that the company is in good standing. If it is the opposite, you have a compelling reason to cross that broker out from your list of prospects.
They have offices/physical addresses. A highly qualified mortgage broker usually has offices (as opposed to brokers only available online), which means they have complied with the requirements mandated by state and federal laws.
Online looking for a broker to help with your application for home loans in Tucson? Contact Homeplus Mortgage today.