Mortgage broker

A firm that originates and processes loans for a number of lenders.

The term broker generally applies to those who are licensed as a broker. However, many mortgage loan officers who are not licensed as a broker also call themselves mortgage brokers.

Brokers are typically able to offer the widest array of mortgage products. Most mortgage bankers are limited in their programs.

Some brokers specialize in poor credit loans, some in perfect credit loans. Many work with all kinds of credit. Ask questions based on your situation, to make sure the broker has the knowledge needed for your situation.

One of the many benefits of using a Mortgage broker is the wide array of products that brokers have access to.

Choosing a mortgage broker to provide your home loan is very important. First find one that is knowledgeable and trustworthy and then begin talking about rate and fees.