Have you ever wondered: “Should I look for a mortgage broker near me or is any mortgage broker in the country fine?” If you have, don’t worry, you’re in good company. Whether you’re a first-home buyer or looking to refinance, finding the right mortgage broker can make all the difference when it comes to securing the best deal.
A local mortgage expert can provide personalised service that is tailored to your specific needs. They can also help you navigate the often tricky world of home loans. In this blog, we’ll show you how to find a mortgage broker near you who can make your home-buying journey that much easier!
Why Do I Need A Finance or Mortgage Broker Near Me?
A mortgage broker is a licensed professional who deals with multiple lenders to find you the best mortgage deal possible. They have become popular among first-time home buyer millennials. According to the Mortgage & Finance Association of Australia (MFAA)’s latest report on Industry Intelligence Service, they currently originate over 70% of new residential home loans in Australia.
- They support your interests. Financial mortgage brokers are legally obligated to keep your interests in mind. This is because of the best interests duty (BID) for mortgage brokers that came into effect quite recently.
- Better network and choices. A home loan broker has a wide network of lenders that you can get more options from. Their expertise and knowledge can also help you avoid lenders with tougher deals in their contracts.
- Assistance with the application process. The endeavour of finding a home can be quite daunting to many, but with a home loan broker, understanding the process of home buying becomes much easier. This is especially true for first-time home buyers; understanding the terms and content of the loan agreement can mean less risk and stress.
- Much better fee management. When you’re working with a new lender or obtaining a new mortgage, there are many fees involved. These can include appraisal fees and origination fees. If you’re lucky, in some cases, it’s possible for your mortgage agent to waive some fees and help you save money.
- Better deals. The mortgage market is quite competitive, but if you have a great mortgage broker, they should be able to negotiate a good deal. This might include a reduction in initial and ongoing fees.
As for finding one near your location, it can be easily done with the help of recommendations from friends or family. You can also find a “mortgage broker near me” by using this exact phrase in your browser, provided that your browser’s geolocation is enabled. And yes, finding one near you is a good idea since they know the lay of the land, so to speak.
How You Can Find A Mortgage Broker
When it comes to products and services, one of the most reliable sources for trusted recommendations is word of mouth. If you know a real estate agent or are using one, they can introduce you to a good mortgage broker. As mentioned earlier, you can also ask family and friends who have recently used a mortgage broker for their recommendations.
If you don’t know anyone who has access to a reliable mortgage broker, finding one online is your next best option. You can also find websites with lists of top and award-winning mortgage brokers in your area.
Try checking online review sites like Yelp for lists that carry local mortgage brokers in your neighbourhood. These usually feature useful reviews and comments from past customers, which can help you determine who to work with.
After searching for prospects, you will need to verify whether your broker is legitimate, based on the following criteria:
- Licensure and registration. State and federal laws help protect and regulate the industry, such as the SAFE (Secure and Fair Enforcement for) Mortgage Licensing Act of 2008. You can also check if your prospective broker is licensed under the Nationwide Multistate Licensing System’s free online tool, Consumer Access.
- Years of experience. Here, you can gauge their level of experience. This can include the number of years they’ve been practising, as well as the types of mortgage products they’ve handled.
- Professional memberships and affiliations. Affiliations with respectable organisations indicate a dedication to continuous professional growth. It also shows a commitment to following industry best practices. It can also ensure peace of mind, knowing the broker is held in high regard by their peers and is dedicated to upholding ethical principles.
Find The Right Mortgage Broker With Professional Lending Solutions
Finding the right mortgage broker is a crucial step on the path to your dream home. A professional and reliable broker can make all the difference by saving you valuable time, reducing stress and handling the legwork. With their expertise, you’ll gain access to better deals and more favourable terms. As a result, you can make better and more informed decisions.
Professional Lending Solutions is a trusted mortgage broker on the Gold Coast with a range of mortgage solutions. We’ve got plenty of experience and know-how to help you every step of the way! Contact us today if you wish to secure your dream home or refinancing!
Phil’s journey from banking to mortgage brokering reflects a career driven by a commitment to personalised service and tailored financial solutions. With a distinguished background in banking, including roles at NAB, ANZ and Lloyds TSB Bank in the UK, Phil spent 12 years developing expertise in personal and commercial finance, while also completing a Bachelor of Business (Finance), followed by an MBA majoring in International Business.