When shopping for a home loan in Phoenix or elsewhere in Arizona, you can either go directly through a lender or you can choose to work with a mortgage broker. Have you ever wondered what the difference is, and why you might consider a broker over a lender?
With a mortgage broker, you have a company on your side with established relationships with an entire network of lenders throughout the area. Below are some of the advantages that a broker can provide which a direct lender cannot.
1. Access a wider variety of loan programs.
It is true that a single lender may offer quite a few different loan programs. But it follows that were you to reach out to multiple lenders, that selection would broaden. And if you could contact numerous lenders throughout the Phoenix region, that would maximize the loan programs you would have access to.
That is exactly what a well-networked mortgage broker in Arizona allows you to do. The wider the broker’s network, the more loan programs you can discover and potentially qualify for. This gives you the best possible chance of finding a mortgage which is ideally suited to your specific needs.
2. Cut through the dross and work only with trusted lenders.
If you were to look for a mortgage without the help of a broker, you would not only need to evaluate loan offers, but also lenders themselves. You would need to research every lender that you were thinking about working with to make sure that they were reputable.
But a qualified mortgage broker has already done that work for you. The broker’s network consists only of competitive lenders with fair and transparent practices. This makes it effortless to avoid those that do not make the cut.
3. Qualify for rates that are not advertised to the public.
Mortgage brokers not only save homebuyers time (see below), but also make it easier for lenders to find eligible borrowers. In return for this, lenders sometimes offer the customers of mortgage brokers special low rates which the general public does not even know about.
4. Save time and effort finding the most suitable home loan.
Finally, not only can you potentially save money on a mortgage by qualifying for lower rates and better terms if you go through a broker, but you may be able to cut many hours of time and work out of the entire process.
You can funnel the time and energy you save shopping around for a home loan toward shopping for the perfect property instead. The entire experience can be easier, smoother, and more enjoyable all around.
Let Barrett Financial Group Connect You with the Ideal Home Loan
As a top mortgage broker in Phoenix, Barrett Financial Group works with a broad network of trusted lenders, giving borrowers access to as many loan programs as possible along with some of the most competitive rates in the state. To schedule your consultation and save time, effort and money when choosing a home loan, please call (480) 470-1080.