What is a mortgage broker?
A mortgage broker is an intermediary between the borrower and lender for the home loan. The broker works directly with the borrower to locate the best lender and loan product to satisfy their needs. While rate is an important part of the search process, many other variables go into matching the borrower with a lender.
Some of the variables include:
Government Loans (FHA, VA, USDA)
Underwriting closing turn times
Ease of use for the client.
Loan amounts and loan to value
Why should you work with a mortgage broker?
There are several advantages a mortgage broker can offer over a retail lender or local bank. First, brokers are typically able to offer a wider variety of loan products that can meet more of our client’s needs. Often, mortgage broker interest rates are more competitive. Brokers tend to have lower overhead costs to operate their business and don’t have to charge more to pay the loan officer, branch office, and corporate office. A mortgage broker’s primary focus is home loans. Brokers don’t have to worry about cross-selling or upselling any products.
Technology also plays a big role in simplifying the process for our clients. By utilizing our lending partners’ technology, we are able to have our loans cleared to close in a shorter time than other mortgage companies.
How should I get started with Capital City Mortgage?
At Capital City Mortgage, our goal is to simplify the process and help our clients optimize their income, assets, and credit to maximize their wealth-building potential. When we are able to do this, our clients are able to worry less about their mortgages and focus more on enjoying their homes and family.
Contact us today. One of our licensed professionals will contact you and answer any questions you may have.
Your credit score plays a crucial role in your financial life. Whether you're looking to buy a house, finance a car, or even apply for a credit card, a good credit score can open doors to better interest rates and favorable financial opportunities. Here are the top...
For many people, owning a home is a dream that requires financial planning and careful consideration. One of the most important aspects of homeownership is understanding how mortgage payments are calculated. While the process may seem complex, this blog post will...
Buying a home is a significant investment, and before embarking on your search, securing a mortgage pre-approval is crucial. This step provides clarity on your borrowing capacity and potential loan options. This will help streamline your property search. However,...