Do you want to know why mortgage brokers are necessary when purchasing a property?
When people talk about getting a home loan, most of them will go straight to a bank. However, there are lots of benefits that come with having a mortgage broker as a personal loan consultant
For something as important as having a home loan, it’s necessary to know about the perks you get by working with a mortgage broker instead of directly with a bank.
Purchasing a home is an important but complex transaction. There are a lot of considerations you need to take into account which can make inexperienced buyers feel lost.
In today’s article, we’ll talk about how the Johnson family made the best decisions regarding their housing needs.
Simon and Patricia Johnson are looking forward to purchasing a larger home to accommodate their growing family. They have two children and they’re looking for a property which has more than two bedrooms. Aside from that, they are also looking for a home with lots of space for their kids to be able to play around freely.
With that said, the couple decided to look for a mortgage broker they can trust.
Mortgage Brokers Make the Finance Process Simpler
The Johnsons trusted Gerry Bosco as their mortgage broker. Gerry took the Johnsons through different home loan options available to them. Aside from that, he also gave the couple insight into their budget limitations, making how much they could spend on their new home quite clear.
Gerry is expected to have deals with different lenders on a day-to-day basis. This means that he already knows what needs to be done for a specific lender and what processes the Johnsons need to do in order to have a smooth and fast transaction with a specific lender.
The couple has access to a variety of loan products that Gerry has experience dealing with. Their selected broker can advise them on getting the perfect loan for their needs and not only that, he’ll also assist them in looking for loans with lower rates to help them pay off the loan faster.
In addition, Gerry is also acting as their personal advocate with the lender. The Johnson’s trust his recommendation on the loan they chose and all the process that comes with it.
Brokers Assistance All The Way
Simon and Patricia have been given assurance by their chosen mortgage broker to find the appropriate home loan option for the property they found. They talked to a lender whose policies are closely aligned to Johnson’s financial needs. The lender was very glad to accept the contract of sales as their valuation and granted the loan afterwards.
Mortgage Brokers’ Services
The services of a mortgage broker are usually free.
Asking for help from a mortgage broker will help you speed up your application process, explain the lenders requirements in laymans terms and ensure you’re using the right lender for your needs and requirements.
Johnson’s Dream Home was Granted
Finally, the Johnsons successfully purchased their dream home. The process was indeed smooth on the Johnsons’ side with the great help of their chosen mortgage broker, Gerry Bosco.