What is a mortgage broker?
A mortgage broker is a professional freelancer, who has access in the mortgage market. Unlike a loan officer, he or she does not work for specific money lenders; this independent individual simply serves as a connector between the bank and the borrower. The mortgage broker does almost all the work for the loan process – from surveying possible lenders to keeping transactions until the mortgage term ends. Your chosen broker is responsible in performing the following tasks: listing down possible mortgage lenders, assessing your credit history, completing all the required documents, collaborating with various agents, assisting you until the closing day, and giving you advice regarding your financial circumstances.