Your Mortgage Broker rocks. Palm State Mortgage wants you to know that a mortgage broker’s most critical job is to shop around and compare several lenders for your home loan. Our passionate pursuit of your best mortgage deal is why we say a mortgage broker rocks. We discover your mortgage options, given your individual fiscal situation.
Then we counsel you in the most money saving, path on your journey to home ownership.
We have said this many times in blogs. We have also featured it as the bedrock underneath our last 3 Palm State blog articles. And yet we often fear that many homeowners do not see the unique difference between us and the typical mortgage loan officers at a bank.
Pulling Back the Curtain on What Your Mortgage Broker Does for You
You see, Palm State Mortgage Company works with and for–you. In contrast, the loan officer at your neighborhood bank works for the bank. Now, we mean absolutely no offense to loan officers at banks. Many of them are treasured friends and colleagues in the mortgage industry.
We only wish to point out that, of course, they work with the loan products and services of their particular bank.
As a comparison, we explore many different lenders, whereas the loan officers at your bank work primarily for their bank.
Your Mortgage Broker Presents a Fable for Buying a House
As you know from our last three blogs, it’s true that mortgage brokers can infuse that human touch element of expertise, compassion, and knowledge. And it’s also true we accompany you on your high-tech journey into the world of mortgages, math, and modern technology.
But, for right now, let’s demystify our job. Let us simplify what we do and what we help you to do in order to attain your dream home:
A Simple Analogy Illuminates Our Job
Often when questioned about the difference, we like to tell a simple story. Forget about the house for just a few moments. Imagine you and your Spouse are shopping for something simpler and still a small investment. Let’s say you are shopping for a pair of fine winter coats.
On the one hand, you could spend your entire Saturday at a couple of malls going to five major department stores, comparing deals on coats. Likewise, you could invest almost an equal amount of time on the Internet, pondering beautiful coats offers without trying them on.
On the other hand, a professional personal shopper would have access to many more stores. Plus the professional personal shopper would possibly have specialized information about their deals, their reputations, and reliability.
Therefore, you can think of your mortgage broker as your personal shopper–for mortgages, not coats. And you could regard the mortgage officer at your bank as an employee of one of your favorite stores.
Your Mortgage Broker Translates the Analogy
Another way of putting this is that the loan officer is a significant cog in the wheel of one large bank, whereas your mortgage broker is like a small business who deals with many investors.
Finally, The Big Basic Reasons Your Mortgage Broker Rocks:
We survive on our reputation, not on a dazzling television promotional and giant name-brand web campaigns.
This blog reaffirms the significance of what we do at a good mortgage company. Ultimately, we want to combat a continued lack of understanding of our job here at Palm State.
1. Licenses: At Palm State Mortgage, our owners only rock with reputation, regulation and government approval. You see, your mortgage broker must be licensed by the state as well as the federal government.
2. Transparency: Your mortgage broker must also rock by following the rules and regulations regarding full disclosure. Be assured your mortgage broker rocks out all the details and fees concerning your loan. Likewise, they must vouch for the lender they help you choose.
3. Guidance: Your mortgage broker rocks for special cases. We can often find a lender for difficult financing cases. Your mortgage broker might even find you a lender when your loan has been denied by a bank.
Education and Networking
4. Continued Education and Networking: We pursue not only formal continued education but we follow “the trends. Additionally, we know what mortgage products are available and are aware of which institutions might be offering special discounts.”
Furthermore, we might be aware of “exclusive deals that are not offered on the open market.” And we must add, “We consider it part of our job to identify the most appropriate lender for the specific circumstances of a borrower.”
Your Mortgage Broker Gives the Perks to You
By the way, we apply all our education and experience to homes and businesses, not coats, as in our . But we are sure you understand our little story. And now we hope you better understand the role of the mortgage broker what we do, and how your mortgage broker rocks–and rolls.
A Special Note on Multiple Mortgage Quotes
Contrary to popular propaganda, “applying for several mortgage quotes does not negatively impact your credit score.” Here’s the problem with using just one or two quotes:
“If you settle for the first company who approves your application, you could end up with an interest rate that costs you thousands of extra dollars over the life of the loan.”
Once you have given us your your documentation, we as “your mortgage broker, handle all of the back-end paperwork necessary to make multiple applications, “to find you the best deal out there.”You see, that’s our job.
The mortgage brokers at Palm State wish you Happy House Hunting. And when you find that dream home, we’ll find your dream financing.
We wish you Happy House Hunting. When you find that dream home, your mortgage broker at Palm State will find (or should we say rock?) your dream mortgage. That’s just how we roll.