Ravi Chandran
The home loan maze may be difficult for you to maneuver through without the help of mortgage brokers.
By: Hitesh Khan/
Using a Mortgage Broker can make a difference in the interest you pay, the points you are assessed, how difficult it is for you to qualify for a loan, the length of time it takes for your loan approval, and even whether or not you can get a loan.
If you had to do it yourself, where would you start? How many mortgage sources are you familiar with? How many of the hundreds of loan variations do you fully understand?
This is where a mortgage broker is useful, as mortgage brokers can guide you through this potentially disastrous home loan maze, and lead you to a lender and the loan that best fits your specific requirements.
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There are, in fact, money sourceswho may only provide funding through Mortgage Brokers. Market conditions often dictate how “choosey” most lenders will be, what percentage of total income the lender will allow a mortgage to be, how large a down payment is required, how perfect your credit rating must be, and other such factors.
Unconventional sources known only to a Mortgage Broker may offer hope to prospective homeowners who are having difficulty qualifying with conventional lenders.
Navigating through the home loan maze can be a confusing experience without the help of mortgage brokers.
With so many options to choose from, it can be difficult to find your way. That is why a Mortgage Broker is your number one source for a loan. A Mortgage Broker will guide you through the lending process, provide you with any help you need, and try to simplify the process. You will get the service and selection you want from a Mortgage Broker.
Mortgage Brokers provide the home loan seekers with 3 things:
- Choice
- Convenience
- Expertise
The home loan seeker receives an expert mentor through the complex mortgage lending process. The Mortgage Broker offers the consumer extensive choices and access to affordable home loans while balancing the consumer’s financial interests and goals.
A mortgage brokers focus is to help you get your dream home through proper financing or refinance. This is because they have a vested interest in satisfying your needs. They will select the best lender from our many sources to provide you with a loan that meets your individual needs. Most mortgage brokers have extensive knowledge of the many loan programs available and will take the time to fit your needs to the best home loan.
Remember even if the home loan maze may be tricky, there is a best loan for everyone, and mortgage brokers know how to find it.
https://www.icompareloan.com/resources/mortgage-broker-advantage/
Because interest rates change daily, mortgage brokers can obtain a locked rate to insure that the rate being offered is available to you at the closing. They are motivated to keep the processing time to a minimum, so you are satisfied with their timely performance.
A reliable mortgage broker’s position in the mortgage industry gives them a competitive edge allowing them to provide you with a loan that will benefit you the most with the lowest costs. Trusted personal Mortgage Brokers are often happy to work with you to find the best loan for your home.
The home loan which best suits a particular borrower, is not always evident when that borrower makes a loan application. Often a loan program, which at first looks as if it is a good match, may not be practical as the loan is processed and additional information about the borrower and/or property is received. Lender loan programs and the rates inherent in each loan offer often change on a daily basis. This is where a mortgage broker comes in handy in helping you through the confusing home loan maze.
Using a Mortgage Broker allows the consumer the opportunity to go to a different lender if the original loan offer or its rates and/or fees have changed, or if the circumstances of the property borrower warrant changing. A Mortgage Broker represents their client by accessing a multitude of lenders. The Mortgage Broker may, therefore, offer their client greater flexibility through more varied programs than those which are offered through a single bank.
A good mortgage broker always knows which bank is offering the most attractive rate in town and connect their customers to such lenders. A good mortgage broker can leverage these relationships often times to obtain more favorable terms for a loan. This is because they have many more options to place a loan versus a single product line.
How to Secure a Home Loan Quickly
When using mortgage broker services, know that they can set you up on a path that can get you the best home loan meant only for you, in a quick and seamless manner.
Our consultants at iCompareLoan have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home or commercial purchase needs. Find out money saving tips here.
Whether you are looking for a new home loan or to refinance your existing one, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.
For advice on a new home loan.
For refinancing advice.
