A mortgage advisor is typically your Loan Officer or someone with an extensive mortgage back ground such as an underwriter who quits his job as an underwriter on the mortgage to assist home owners.
Benefits of using a Mortgage Broker
When you walk into a bank or a Lender. What borrowers need to understand is that they typically cut themselves short of various other programs that they could have qualified for because a bank has their own niche or portfolio products they sell.
A broker or someone who deals not just with one bank or lender or broker, in other words, a” Brokers Broker” typically holds an edge over someone who is restricted to just one particular bank.
So the question as to who really is an independent mortgage advisor, in my opinion, is the one who has many banks and lender and brokers on his table and not the one who works just for one particular bank.
Such experts know not only what is happening within a particular bank and what products they have but they advise you about products they you may not be aware of.
The mortgage is an individual’s biggest financial transaction of his life. This is not as simple as buying a candy or computer. There are many legalities involved when it comes to signing a bunch of mortgage papers from banks, title companies etc. Hence it becomes very important to talk to an expert adviser which typically is your Loan Officer or could be your CPA or someone with an extensive back ground into a mortgage and handling people’s finances. The adviser’s role is crucial typically when you are a first time home buyer. You need someone who can guide you all the way with all the documents and equations and program and how it is going to impact your finances and tax benefits.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154
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