There are a few different questions that you should be asking a mortgage broker before you decide to use one. A mortgage broker is basically a middleman between you and a potential lender and there job is to compare lenders and help you get the best interest rate possible. When it comes to picking a mortgage broker you want to do vast research and interview at least three people. Finally, make sure to read reviews and check how each one stacks up with the Better Business Bureau.
Key Takeaways:
- Mortgage brokers can be paid by borrowers or by lenders, but not legally by both.
- Hiring a mortgage broker will save you time and hassle, but you need to look closely at the fees.
- Look to friends, family or your real estate agent for mortgage broker referrals.
“Here are answers to common questions about working with mortgage brokers.”
Read more: https://www.nerdwallet.com/article/mortgages/working-with-mortgage-broker
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