Buying your first home can be overwhelming. The process seems to involve endless steps, meetings with banks and credit unions, home visits, meetings with real estate agents, negotiations, closing costs — and that’s before you even get to the point of actually moving into the place.
One option that many home buyers hear about but often don’t fully understand is the option of using a mortgage broker to find a good mortgage. What is a mortgage broker? How does the process work? What are the benefits — or the drawbacks — of using one? Let’s dig into what mortgage brokers offer to find out more.
What is a mortgage broker?
A mortgage broker is a person whose mission is to help you find the best mortgage. Typically, a mortgage broker has arrangements with a bunch of different financial institutions and can present offers on the behalf of each of them based on your credit history and other information.
Ordinarily, if you are getting a mortgage without a mort… Read More