Business & Economy Personal Finance Top quality mortgage brokers help you navigate through complex home loan terrain

Top quality mortgage brokers help you navigate through complex home loan terrain

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Top quality mortgage brokers can help you navigate through the ever-changing mortgage market and help you to identify and target the best opportunities.

By: Phoenix Lee/

Tapping into the experience and overview of top quality mortgage brokers can easily save you much more than the broker’s fee. As a result of being “in the trenches” every single day of every single week, a top quality mortgage brokers are at the cutting edge of what is being offered, of how far the envelope can be pushed, as well as the specific language beneficial to the borrower that has been successfully negotiated on other transactions.

The key to choosing a top quality mortgage brokers is the same as for choosing any other professional – word-of-mouth references, as well as due-diligence on the broker’s background, experience and reputation are important.

First-time home buyers can avoid common and costly mistakes

Of course, it’s critical that the broker you choose is deeply engaged in the current mortgage marketplace, is a good communicator and a skilled negotiator. Utilising top quality mortgage brokers allows you to tap in to a high level of expertise and experience that can help you to best achieve your goals. Independent mortgage brokers have had a significant positive impact on the lending industry.

Today, the use of top quality mortgage brokers is one of the key strategies used by sophisticated borrowers.

top quality mortgage brokers

But many people don’t know who mortgage brokers are.

A mortgage broker is an independent real-estate financing professional who specialises in the origination of residential mortgage loans. Mortgage brokers normally pass the actual funding and servicing of loans on to wholesale lending sources. A mortgage broker is also an independent contractor working with (on average) as many as 10 lenders at any one time.

By combining professional expertise with direct access to hundreds of loan products, top quality mortgage brokers provide the most efficient way to obtain financing tailored to your specific financial goals.

Home owners who missed window to refinance at risk of becoming ‘mortgage prisoners’

What Do Mortgage Brokers Do?

In the volatile home-lending market, mortgage brokers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the broker’s most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage broker can wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.

Top Quality Mortgage Brokers Handle the Details!

There are literally thousands of variables that can affect the outcome of your mortgage transaction. Mortgage brokers counsel borrowers on any problems involved in qualifying for a loan, including credit problems. Brokers also help borrowers select the loan that best meet their needs, and shop for the best deal among the lenders offering that type of loan. Brokers take applications from borrowers, and lock the rate and other terms with lenders. They also provide borrowers with the many disclosures required by the governments.

In addition, brokers compile all the documents required for transactions, including the credit report, property appraisal, verification of employment and assets, and so on. Not until a file is complete is it handed off to the lender, who approves and funds the loan.

That’s why you need top quality mortgage brokers to act as a liaison between the real estate agents, lenders, appraisers, the underwriters, the processors, lawyers, and any other services which may affect your transaction.

Top quality mortgage brokers also:

  • Discusses and explains financing program options
  • Informs you, in writing, of lock-in options
  • Explains all documents of the loan application
  • Explains all associated costs of the loan application
  • Explains the disbursement of all loan applications
  • Explains the loan process, from application to closing
  • Provides you with a good faith estimate of cost and fees
  • Communicates with you throughout the loan process in a timely manner
  • Coordinates the final closing of your transaction

When using the mortgage broker services, know that the broker has a duty of fairness and honesty to both you and the lender. Mortgage broker services are free as brokers are paid directly by the lender who funds the loan. Brokers usually act as your agent with the lender.

You can also deal directly with some lenders without using a mortgage broker. Whichever you choose, ensure that you have checked out the company. Try to use companies that people you know have used and can tell you the level of service provided. Rates should be competitive with other companies. Remember that if the deal sounds too good to be true, it probably is.

How to Secure a Home Loan Quickly

When using mortgage broker services, know that they can set you up on a path that can get you the best home loan meant only for you, in a quick and seamless manner.

Our consultants at iCompareLoan have close links with the best lenders in town and can help you compare Singapore home loans and settle for a package that best suits your home or commercial purchase needs. Find out money saving tips here.

Whether you are looking for a new home loan or to refinance your existing one, the Mortgage broker can help you get everything right from calculating mortgage repayment, comparing interest rates all through to securing the best home loans in Singapore. And the good thing is that all our services are free of charge. So it’s all worth it to secure a loan through us.

For advice on a new home loan.

For refinancing advice.

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