Choosing A Mortgage Broker

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Finding a mortgage broker is easy; it’s finding a good, reliable one that you trust 100% that may be a little tougher! A mortgage broker is the middleman between a mortgage lender (in other words, an institution–such as a bank–that finances your mortgage) and you. Some financial institutions only work through mortgage brokers, so not using one can limit your chances of getting a good mortgage.With a few things in mind, you can quickly find a broker that you are comfortable dealing with. First, as with any product or service, ask your friends and family for recommendations. Second, even if you find the broker over the internet, ask to meet him or her at their office. And yes, this means you should find a local broker. Meeting the broker at their office allows you to see for yourself how professional their business is, and the appearance of their workplace can go a long way towards telling you this.Ask for proof of credentials, and if they work for a particular lender, also ask to see proof of this partnership.Ask to have copies of any and all paperwork from the very first meeting! Do this even if you don’t think you need the papers. Remember, the broker you use is, in effect, in control of your finances for your mortgage. They are there to help you get a good mortgage deal, but don’t take their word on anything–document everything. This also means that if they offer you deals or special rates, that all these rates are in paper form, with signatures.