Broker Bites: Finding the Right Mortgage for You

Unless you’re a rock star, an A list actor, or a wealthy heiress with a penchant for designer Chihuahuas, chances are you will need a mortgage loan to purchase a home. And while everyone’s goals when home buying fall under the same general categories (finding the best interest rates, and the lowest prices) not everyone knows how to get there.

That’s where finding a mortgage broker comes in. Working closely with you and your real estate agent, a broker can save you thousands of dollars over the life of your loan.

When shopping around for a mortgage broker, don’t be afraid to ask questions. And a good mortgage broker will also ask you a lot of questions. You wouldn’t expect a doctor to recommend taking your appendix out before he’s examined you. Think of your mortgage lender in the same light. They can not possibly recommend the right kind of loan without knowing who you are and what your financial situation looks like first.

Remember, this is likely the most important purchase you will ever make; and a small mistake up front can cost you dearly in the end.