Secrets Your Mortgage Broker Will Not Tell You

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Pros And Cons Of A Mortgage Broker

Source: https://www.moneyunder30.com

The obvious advantage to using a mortgage broker is you will have access to multiple lenders at once, and have more options at your disposal. This is especially true for borrowers with a weak credit score. Or for those not used to the processes. The disadvantage is the broker will charge a fee. This could add to your closing costs, unless the bank pays the broker. Always find out first who pays the fee.

Of course you don’t have to use a broker, you can get quotes directly from several lenders, especially if you have a high credit score. The choice is yours. But a good mortgage broker is essential. Do your research carefully, you don’t want to get a mortgage broker who is not well connected.