Whether purchasing your new home or refinancing for lower rate/term or cash out, trying to do the leg work yourself can not only be a daunting task, it can actually cost you more money in the long run.
While mortgage brokers are often thought of as a "Middle Man" in the loan process, a good loan officer who works for your best interest is invaluable in narrowing the search for the best suited loan package to meet your goals. Most brokers have access to many lenders and the larger companies can actually procure better rates than you could by going directly to the same lender! How? Larger broker houses do such large volume with their most used lenders that lenders allow lower rate programs than are offered to the general public.
Be caucious of this, though. Broke View the rest of this article
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