What is Mortgage Broker?
A mortgage broker is a licensed professional who matches borrowers with multiple lenders, helping them compare loan options and navigate the application process.
A mortgage broker is a licensed intermediary who works with multiple lenders to help borrowers find and compare mortgage options. Brokers gather your financial information, shop your scenario to several lenders, and guide you through application, underwriting, and closing. They are not lenders and do not fund loans themselves. Borrowers use brokers to save time, access a wider range of products, and get expert advice on pricing and eligibility. Watch for how the broker is compensated, whether by lender-paid or borrower-paid fees, and compare total costs. A broker can offer choice, but you should still review loan estimates carefully.
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