Role of a Mortgage Advisor

Use a mortgage adviser to save yourself the time and effort of talking with multiple lenders by yourself.

A mortgage adviser provides borrowers with access to a broad range of mortgage options based on relationships with a network of lending institutions. Working with an adviser saves you time and energy by allowing the adviser to shop for you, rather than approaching several lenders yourself.

Saves Time and Effort

A mortgage adviser researches the best available loan options from among a network of lenders. He also answers your questions regarding the application process and loan details.

Facilitates the Transaction

A mortgage adviser gathers the necessary documents to complete your application. These include your personal and financial information, federal and state disclosures, property appraisal, and employment verifications. After submitting the loan application on your behalf, she works with you and the lender until it is approved.

Finds Specialty Loans

If you have a difficult credit history, mortgage advisers use their networks to access specialty loan products from lenders unknown to you. Often, a mortgage adviser readily knows which lenders to use depending on your specific needs.

References

• Bankrate: Should You Use A Mortgage Broker
• Zillow: A Mortgage Broker Can Pay Off for You
• Wall Street Journal: Should You Use A Mortgage Broker?

Resources

• National Association of Mortgage Brokers