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Top 6 Reasons to Use a Mortgage Broker

By Lending Expertsca Subscribe to RSS | April 4th 2012 | Views:

A first time home buyer tries to hasten the process as if he will miss the opportunity. However, the process of arranging or managing finance for investing in the property demands much patience and expertise. Therefore, it is imperative to employ a mortgage broker for assistance. There are several other reasons for why you should use a broker, and the top 6 reasons are discussed below.

Free Service

Though you employ the services of a mortgage broker, but you do not need to pay for it. It is free for you. However, the lending company from which you get the finance pays the broker for assisting in finalizing the deal. However, if you entrust a lending firm or a broker for any other service other than assisting in managing finance, then you may have to pay for the additional services.

They are on your side

Though a broker is paid by the lending firm that releases the finance for your investment, still the mortgage broker is on your side. He negotiates the terms and conditions, lending rates and repayment module on your behalf, and comes up to you with best deals.

Power of negotiation

As an individual buyer, you cannot visit each and every company or collect documents related to their lending plans. You have your other day to day works and even if you manage to visit some of the banks or other firms, then they might not provide you with rates or other documents. However, a broker knows the trend of the market and can easily procure rates offered by different firms; thereby, he is able to negotiate with the firms and provide you the best deal.

Individual attention

When you visit a financial institution or some lending firm, then it is rare that you find dedicated attention from the staff. However, a mortgage broker, works for you and is always eager to provide individual attention to your needs. He is well aware of your financial situation and thus he is able to choose deals that suit your requirements.


The broker hired by you has expertise of the field and has dealt with several similar cases and thus he is better positioned to understand your requirements. His expertise in the work also enables him to make the best use of his negotiating capacity on the rates quoted based on the mortgage calculator.

Not bound to any particular firm

Normally, mortgage services offered are not dependent on any particular lending institutions and thus compare deals offered by several lending firms. This allows them to pick the best deal for your needs. Therefore, it is essential that you employ services of a mortgage broker to enjoy best deal for your financial needs.

Lending Expertsca - About Author:
Paragon Mortgage Group Inc. provides mortgage services that fit in diverse needs of investors. It also offers the services of mortgage broker to the first time home buyers.

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