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A mortgage broker’s job is often misunderstood. Some people think we just shop around for rates, while others assume we charge hefty fees for something they could do themselves. So, let’s clear things up and talk about what we actually do and how we differ from the banks—without the corporate jargon and with a little personality.
First things first: what do we do? Well, imagine you’re planning a wedding. Would you rather visit every venue, caterer, florist, and DJ in town by yourself, or would you rather have an experienced wedding planner who knows the best options, gets you deals, and makes sure you don’t book a seafood buffet for guests who are all allergic to shellfish? That’s us—but for mortgages. We have access to multiple lenders, including banks, credit unions, monolines (lenders that only do mortgages), and alternative lenders, meaning we can find you the best option tailored to your situation. And unlike a single bank, we aren’t limited to one set of products.
Now, the big question: how do we get paid? Most of the time, our services are free for clients because we get paid a commission by the lender when your mortgage funds. It doesn’t cost you extra, and our goal is always to find you the best mortgage, not the one that pays us the most. In rare cases—like highly complex or private lending situations—there may be fees involved, but we make sure clients know about that upfront. No surprises, no fine print.
Think of it this way: if you walked into a clothing store and had a personal shopper helping you find the best outfit for your budget, and the store paid them for their help, would you say no? That’s essentially how mortgage brokers' work. We do the legwork, you get the best fit, and you don’t pay extra for it.
Another common question: what do we actually do for you? Besides finding you a great mortgage, we help you understand the fine print, guide you through the approval process, and make sure you don’t unknowingly sabotage your application (yes, financing a new truck before your mortgage closes is a bad idea). We also handle the paperwork, liaise with the lender, and troubleshoot issues that pop up. If something goes sideways, we work to fix it.
So how are we different from banks? Banks can only offer their own mortgage products. If you walk into a bank, you get their rates, their rules, and their approval process. With a mortgage broker, you get access to a whole market of options, competitive rates, and solutions that fit your financial picture. Plus, we work for you, not a single institution, meaning we’re motivated to find the best deal rather than just meeting a sales quota.
Beyond just rates and products, mortgage brokers bring expertise. We keep up with market trends, policy changes, and lender quirks so you don’t have to. We know which lenders are flexible with self-employed income, which ones don’t love rental properties, and which ones have the fastest turnaround times. That knowledge can mean the difference between a smooth mortgage approval and a stressful last-minute scramble.
At the end of the day, working with a mortgage broker means having someone in your corner who knows the industry inside and out. We help you avoid mistakes, get you the best mortgage for your needs, and simplify what can be a stressful process. And best of all, we make sure you don’t have to do it alone.
If this all sounds good to you, let’s talk. Whether you’re buying your first home, renewing your mortgage, or refinancing, I’d love to help you find the best solution. Give me a call or visit my website to get started!
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