mortgage broker Santa Clarita

March 21, 2017

Read this before you hire a mortgage broker

One way that can help you in your search for the best mortgage loan is to use a mortgage broker Santa Clarita, CA. A broker can help you navigate the complex lending process from start to finish. With expertise and a wide network of mortgage information they have, getting your dream home can become a reality. However, there are important things you need to understand so that when you are shopping for a home loan with your mortgage broker, it is going to be a smooth-sailing business relationship; it is imperative that you and your broker are on the same page. Here are some important things you need to know: What does a mortgage broker actually do? A mortgage broker, who should be a licensed one, acts as a middleman between you and potential lenders. Working in your behalf, your broker should find the best deals from mortgage lenders available – those who offer the most competitive terms and rates. Your broker does all the legwork for you – gathering the required documents, checking your credit history, among other pertinent mortgage loan requirements. How does a mortgage broker earn money? A mortgage broker, Santa Clarita, CA is get paid by a commission for the services he/she renders. In the most common payment set-up, a broker charges you for a loan origination fee, which is an upfront fee charged by a lender for processing a new loan application. It ranges between 0.5 to 1% of your loan amount. How to choose […]