Finding A Reputable Mortgage Broker

Finding A Reputable Mortgage Broker



Finding a​ Reputable Mortgage Broker
So,​ you're searching for a​ mortgage broker,​ but you​ aren't really sure where to​ start .​
Well,​ there are several different places that you​ can look to​ find a​ mortgage broker – the​ phone book,​ online,​ and through friends and family are all great places to​ look .​
But,​ how do you​ really know that they are a​ reputable mortgage broker or​ not? Here are some tips to​ help you​ weed out the​ good from the​ bad:
1 .​
Compile a​ list .​
Gather up all the​ information on​ mortgage brokers that you​ have gotten so far,​ from friends and family,​ the​ phone book,​ or​ online,​ and place it​ all on​ a​ list .​
Make sure that you​ have the​ full name of​ the​ company,​ their phone number,​ and either their address or​ web address.
2 .​
Do some homework .​
Now that you​ have your list,​ you​ need to​ go through each mortgage broker and search out all the​ information on​ them that you​ can find through the​ Better Business Bureau and the​ Attorney General's office .​
You can do this either online or​ by phone .​
While you​ are looking through their information,​ here are some things that you​ need to​ look for: Has the​ company ever been involved in​ legal problems with the​ state or​ federal government? Are they a​ licensed mortgage broker in​ the​ United States,​ or​ are they overseas? How many complaints have been filed against the​ mortgage broker? If the​ company has several complaints or​ lawsuits filed against them either by the​ government or​ individuals,​ this should be a​ red flag and you​ should consider crossing them off your list .​
If the​ company is​ not a​ licensed mortgage broker,​ this is​ a​ huge red flag and you​ should drop them off your list immediately .​
If you​ come across any other issues that just don't set right with you,​ take that company off your list as​ well .​
You should feel completely safe with the​ company having your personal information and your money.
3 .​
After you​ have narrowed your list down by doing a​ little background on​ each mortgage broker,​ you​ should have a​ few who are at​ the​ top of​ your list .​
Call these few and interview each one by asking some of​ these questions: How long have they been in​ business? What are their fees on​ mortgages and refinancing? What types of​ rates do they offer? And any other questions that you​ might need to​ know that pertain to​ your situation.
By finding out all the​ information that you​ can about the​ company before you​ sign with them,​ will help to​ ensure that you​ are choosing a​ reputable mortgage broker to​ handle your next mortgage.




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