Embarking on the homebuying journey takes much effort and research, as the market is constantly changing and purchasing a home is a huge financial commitment. This is why it pays to have real estate professionals such as an experienced mortgage broker on your side to aid you during the process.
What is a mortgage broker?
A mortgage broker acts as a bridge for potential loan borrowers to compare different lenders to make an informed decision on where to find the best loan option for their home purchase.
Using a mortgage broker helps borrowers compare interest rates, loan terms, benefits and more, saving homebuyers the time they would have spent comparing quotes on their own time.
How do mortgage brokers get paid?
Mortgage brokers work to secure quality borrowers for financial institutions and are paid a percentage of the loan amount directly from the borrower or the lending company.
The fixed percentage mortgage brokers are paid can’t be changed due to increased interest rates or the type of loan acquired.
What is the benefit of a mortgage broker?
In addition to saving homebuyers time on searching for financing, mortgage brokers can also provide access to numerous lenders with the best deals available. A mortgage broker can also work directly with your lender to reduce or even waive mortgage fees once the loan is approved.
The homebuying journey is full of steps, paperwork and negotiations. Having a mortgage broker by your side can ease some of the burdens often associated with home financing, and can even save you money along the way.
About the Author
Joseph Nuzzolo
Joe was Born and raised in New York and came to LA when he was 25 years old. He started in the fine arts industry with tremendous success. As a Sales Expert, he has closed over 11,000 art deals. It was his love of working with fine art, his creative mindset – and a succession of personal real estate investment deals – that led him into the world of real estate. He was the top agent for 3 Leaf Realty before opening his own firm.
In 2017 Joe decided to branch out on his own and launch his long planned and awaited, Thompson Team Real Estate based in Torrance. Where he and his team of hand picked agents cater to a discerning clientele. Through his 30 years of sales experience, Joe has built a strong and formidable reputation with clients, industry professionals and peers. He utilizes the latest technologies, market research and business strategies to exceed his client’s expectations. More importantly, he listens and finds solutions that are tailored to each client’s specific needs.