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What advice should be given to a first-time home buyer when dealing with a mortgage broker and real estate agent?
Wiki User
∙ 15y ago
Perhaps, some other colleague can contribute about Mortgage Brokers.
I will endeavor to respond on the topic of my expertise:Real Estate Broker/Agents If you are the market for a real estate property, I think you owe it to yourself, and your loved ones, to know the difference between a traditional [seller's] broker and our [buyer's broker] services. In other words: If you wouldn't use your spouse's attorney when filing for divorce, neither should you use a traditional [seller's] broker when buying real estate. Why? Just like your spouse's attorney, traditional [seller's] brokers have a legal obligation to other side's [seller's] best interest and not yours [the buyer]. Unless agreed to [in writing] the traditional brokers mentioned above work for the seller's best interest and not the buyer's. In other words, NOT using a buyer's-broker would be like using your spouse's attorney when filing your divorce. Be sure that you Buyer-Broker can guarantee you they: * Will NEVER list properties for sale (or work for a broker who does!) * Will NEVER represent sellers * Will ONLY represent buyers like YOU * Will GUARANTEE YOU'LL SAVE MONEY * Finally, WILL find you the best home at the lowest cost! Brought to you by:www.thefreenotary.com
(718) FREE-NOTARY / 373-3668 and Angel L. Cruz,New York City
Licensed Real Estate [buyer] Broker
Wiki User
∙ 15y ago
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What do mortgage brokers do?
Mortgage brokers do not lend money. The have knowledge of the lending market, and guide potential buyers, who need to find a mortgage to purchase a property. The mortgage broker offers advice and recommends the most appropriate mortgage for the buyer. Advice is usually free, but the broker will take a commission from selling a mortgage, paid by the mortgage lender. Its best to seek advice from an independent broker in order that are not tied to one lender, or can only offer you a limited range of mortgage products. As well as mortgage advise, mortgage brokers will also offer other products such as insurance.
What is the best online broker to go to for advice?
Kindly watch this video for full and better understanding: h t t p s ://youtu.be/L1G0Ft95nS8
What is a mortgage broker?
A mortgage broker is a person who interediates in the process of mortgage loans for individuals or businesses. Basically, mortgage brokers sell mortgage products, however, in their work they also might be performing tasks such as marketing to attract clients, assessing the borrowers circumstances (credit history, affordability, etc.), assessing the market to find a mortgage product that fits the client's needs, explaining the legal processes involved, etc. Mortgage brokers can work independently or in companies which offer mortgage advice. The companies are very prevalent in most parts of the world, from Canada to Israel. The links included provide more information on mortgage brokers in the world, as well as mortgage advice.
What are some quality mortgage broker websites?
It seems that the highest quality motgage broker websites are those that offer some extra information and learning tools in addition to details about their services. Keeping this in mind the best sites seem to be Jeff Trounsell's webpage, Mortgage Advice Bureau and Bankrate.
Can a mortgage broker process his own mortgage application?
Yes In the US, no.
Where can I find mortgage broker training?
Capstone instutute of Mortange Finance offers mortgage broker training. http://www.capstoneinstitute.com/ I think that your best bet would also be talking to a local Mortgage Broker and seeking their advice.
What do mortgage brokers do?
Mortgage brokers do not lend money. The have knowledge of the lending market, and guide potential buyers, who need to find a mortgage to purchase a property. The mortgage broker offers advice and recommends the most appropriate mortgage for the buyer. Advice is usually free, but the broker will take a commission from selling a mortgage, paid by the mortgage lender. Its best to seek advice from an independent broker in order that are not tied to one lender, or can only offer you a limited range of mortgage products. As well as mortgage advise, mortgage brokers will also offer other products such as insurance.
Where could one find a Canadian mortgage broker?
One can find a Canadian mortgage broker by checking the Yellow Pages. There will be many listed there. It's a good idea to ask friends and family for advice on who they used.
How do you become a mortgage broker?
Take a traing course. its posilbe to pass your mortgage advice qualifications in literally days after intensive traingin. You then need to apply for a license from the American mortgage licencing association or in the UK you need to pass the Certificate in Mortgage Advice & Practice (CeMAP).
Is getting a mortgage from an online broker safe?
As long as you are dealing with a repurtable company it is very safe to get a mortgage online. Just make sure you are able to talk to someone in person if you need to.
What is the total cost and is there a difference in supervised Mort Broker and Mortgage Broker?
I think there was no difference between supervised Mort Broker and Mortgage Broker. from the following link you can get the information about total cost of Mortgage Broker au.pfinance.yahoo.com/home-loans/features/online_homeloans/index.html
What is the best online broker to go to for advice?
Kindly watch this video for full and better understanding: h t t p s ://youtu.be/L1G0Ft95nS8
What is a mortgage broker?
A mortgage broker is a person who interediates in the process of mortgage loans for individuals or businesses. Basically, mortgage brokers sell mortgage products, however, in their work they also might be performing tasks such as marketing to attract clients, assessing the borrowers circumstances (credit history, affordability, etc.), assessing the market to find a mortgage product that fits the client's needs, explaining the legal processes involved, etc. Mortgage brokers can work independently or in companies which offer mortgage advice. The companies are very prevalent in most parts of the world, from Canada to Israel. The links included provide more information on mortgage brokers in the world, as well as mortgage advice.
What are some quality mortgage broker websites?
It seems that the highest quality motgage broker websites are those that offer some extra information and learning tools in addition to details about their services. Keeping this in mind the best sites seem to be Jeff Trounsell's webpage, Mortgage Advice Bureau and Bankrate.
Can a mortgage broker process his own mortgage application?
Yes In the US, no.
Where can one find information about Springfield mortgage?
One can find information concerning mortgages in Springfield, Ohio by looking at online listings - for example, those provided by Zillow or Realtor. One can also seek a mortgage broker in Springfield for advice in getting a mortgage.
Where can one find a guide on how to become a mortgage banker?
You can find a guide on how to become a mortgage banker online at the eHow or Mortgage Broker Daily websites. Once on the websites, do a search for Mortgage Broker to find the guide.
