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:

  • Interest Rate

  • Credit Score

  • Loan Type

    • Government Loans (FHA, VA, USDA)

    • Conventional loans

    • Non-QM loans

  • 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.

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