Mortgage Brokers vs Working With a Single Lender
If you are in the market for a home loan, it may be a good idea to work with a mortgage broker as opposed to working with a single lender. This is because a broker may be able to offer a variety of loan types such as FHA, USDA or VA loans. They can also offer conventional or jumbo loans if those better fit your needs and budget.
Find the Best Deal on the Market
First-time buyers may not be able to qualify for a conventional loan because of the 20 percent down payment requirement. Buyers who have equity may not want to pay the mortgage insurance that a government loan comes with. By working with a broker, a person finds both the loan and the lender that a person feels most comfortable with. This may make it easier to pay the lowest rate on the market or find a lender that charges the fewest points. (Learn to ask the right questions to your mortgage lender here.)
Spend Less Time Loan Shopping
It can be stressful enough trying to buy a home without going through the mortgage process. By working with a broker, you don’t have to schedule multiple appointments with lenders or spend time sending emails to have your questions answered. Instead, all of that can be taken care of in a single appointment with a broker. Those who have kids, jobs or other obligations may enjoy the fact that they don’t have to cancel appointments or otherwise schedule their lives around bank hours. (Here are FOUR tips to increase your credit score.)
Brokers Are Available Throughout the City
By working with the best Las Vegas mortgage brokers, you can feel good about getting a quality loan product. As owning a home is a commitment that is difficult to break, you need to know that you can afford your home today and well into the future.
Copyright©2018 Fairway Independent Mortgage Corporation. NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender. Licensed by the Department of Business Oversight under the California Financing Law. Loans made or arranged pursuant to a California Financing Law License. CA-DOC337203. Licensed Nevada Mortgage Lender. *Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by gross monthly income.