• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
MyLendingPal Logo

MyLendingPal

Georgia Mortgage Brokers

  • About
    • Blog
    • Careers
    • FAQs
    • Our Process
  • Home Loans
    • Conventional
    • FHA
    • First Time Home Buyers
    • VA
  • Refinancing
  • Resources
    • Are You Ready To Buy?
    • Finding The Right Home
    • How To Find An Agent
    • How To Get Pre-Approved
    • How To Make An Offer
  • Calculators
    • Balance
    • Conventional Loan
    • FHA Loan
    • VA Loan
  • 833.379.0797
  • Apply Now

How To Find A Good Mortgage Broker

March 22, 2021

broker and client shaking hands after client knows how to find a good mortgage brokerFinding a good mortgage broker in your area gives you a local expert on your side through one of the biggest financial decisions you will likely make in your lifetime. Finding a mortgage broker, a licensed and independent professionals, who are able to shop multiple lenders, which gives you access to more good mortgage options than a bank can offer. This allows you to find a more affordable and easier mortgage that is tailored to your home financing needs. Here are some tips on how to find a good mortgage broker.

What Is A Mortgage Broker?

Finding the right mortgage can be just as important as selecting the right house because you will be paying off your loan for many years in the future. Getting the best rates and lowest fees can be a daunting task, which is why many people enlist the help and go through the process of finding a good mortgage broker.

A mortgage broker is a person who shops for a home loan or mortgage on your behalf. After learning about your circumstances, such as your income, credit, down payment and other information, they will search for the best deal on a mortgage loan for you.

While banks only offer you the loan products from their own portfolio, mortgage brokers work with several banks and lenders, giving you access to a wider range of options. They can also explain the pros and cons of the various types of loans available to you and help you make a wise decision.

How Can I Find A Good Mortgage Broker?

Before you start your search to find a mortgage broker, it is a good idea to ensure your credit score is the best it can be. You will also want to have some background knowledge of how the loan process works before you start meeting with prospective brokers.

Work On Your Credit Score

couple meeting with broker after finding out how to find a good mortgage brokerTo qualify to buy a home, you will need to meet credit and income criteria signaling to mortgage providers that you are capable of repaying your loan. If you have a low credit score, it indicates that lending to you is risky. In addition to making it harder to get approved, you may be given a higher interest rate. If you have a higher credit score, however, and a history of making payments on time, you will be in a better position to negotiate for better rates.

The first step to elevating your credit score is ensuring that your credit reports are accurate and do not contain any errors. You can ask each of the three major credit bureaus – TransUnion, Experian, and Equifax – for a free copy of your credit report once every 12 months. If you notice any mistakes, take the necessary steps to resolve them immediately.

Then, work on paying off high-interest debts and reducing your overall debt level as quickly as you can. This will improve your debt-to-income ratio, which is another factor considered by mortgage providers.

Understand Your Options

An important component of finding the best mortgage broker is understanding the terminology they use. Although mortgage brokers are happy to explain your options to you in plain language, carrying out some research upfront can help you understand what they are talking about and spot potential dishonesty.

This is also a good way of dispelling any myths about the process that could influence your choices. For example, the idea that you need to put a down payment of 20 percent on a home is now outdated as many lenders now offer conventional loans with much lower down payments – although this may come with a higher interest rate.

Ask For Referrals

Referrals are one of the best ways to find a good mortgage broker. If someone whose judgment you trust has recently purchased a home, ask them for the name of their mortgage broker and whether they had a good experience. This can help guide you toward brokers you might want to work with as well as those you should avoid.

Close up of home for client after finding out how to find a good mortgage brokerIf you do not have any friends or relatives who have recently applied for a home loan, consider asking your real estate agent if they can suggest any mortgage brokers. Agents often meet brokers at closings and may be able to make a recommendation. Your agent has a vested interest in recommending a good broker because if the broker is unable to close the loan in a timely manner, the sale may not go through at all and the agent could lose their commission.

Consider Online Reviews

You can also try searching for a good broker online. Check reviews on several review platforms to get an idea of how helpful and communicative the broker is.

Interview Potential Brokers

Once you have narrowed your list down to a handful of brokers, consider interviewing them in person or by phone to guide your decision. Find out who their typical clients are and whether they normally deal with the type of loan you are going to need. You also want to ensure that they are licensed.

In addition, these initial conversations can help you gauge whether or not you will feel comfortable working with them on such a major financial transaction.

Find Your Mortgage Broker At MyLendingPal

If you are looking for a mortgage, get in touch with the mortgage brokers at MyLendingPal. Their experienced brokers have the knowledge, insight and connections needed to help you obtain the right loan for your circumstances.

Primary Sidebar

Have a question?

Ask a question or request a consultation, and we will respond to you in a timely manner.
  • This field is for validation purposes and should be left unchanged.

Home Loans

  • Conventional
  • FHA
  • First Time Home Buyers
  • VA

Calculators

  • Mortgage Balance
  • Conventional Loans
  • FHA Loans
  • VA Loans
Contact
833.379.0797
Email
info@mylendingpal.com
Address
5400 Laurel Springs Parkway, Suite 304 Suwanee, GA 30024

Footer

MyLendingPal Logo

Home Loans

  • Conventional
  • FHA
  • First Time Home Buyers
  • VA

Calculators

  • Mortgage Balance
  • Conventional Loans
  • FHA Loans
  • VA Loans

Get the latest news & updates

Equal Housing Lender Logo
MyLendingPal, Inc, NMLS ID #1734346, (www.nmlsconsumeraccess.org); Corporate Office: 5400 Laurel Springs Parkway, Suite 304, Suwanee, GA 30024. Georgia Residential Mortgage Licensee #61544. Principal Loan Originator: Ricky Merchant, NMLS ID: 1517056. Georgia License # 54264. For questions regarding state licensing, please contact (404) 433-8918. Not all products and options are available in all states. Terms are subject to change without notice. Any rates or terms are speculative only and can change without notice.
Google Rating
5.0
MyLendingPal, Inc
MyLendingPal, Inc
5.0
Balachandar Sundaresan
Balachandar Sundaresan
17:30 23 Jun 20
Roger Merchant and his team were very helpful, right from getting a great rate to completing all process on time and being super responsive. Would happily recommend him!!
Dinesh Nair
Dinesh Nair
14:41 30 Jan 20
I would definitely recommend MyLending Pal for all mortgage needs. It all started with a great competitive quote on refinance and excellent service continuing all the way until closing. Priti, Ricky and Roger were a pleasure to work with.
Ramesh Kumar
Ramesh Kumar
02:03 17 Dec 19
I would really recommend Nations First Home Mortgage, if you are looking for the best home mortgage options. I was very much glad to work with this team and they have saved lot of time and money!!
gulshan rai
gulshan rai
03:21 17 Apr 19
I would highly recommend Mr Roger to anyone in the area looking for an amazing lender. He made the mortgage process so easy and effortless. I could tell him and his team were very attentive to all the details that came with applying for a mortgage and were quick to remind me of any deadlines that were approaching.It was super easy to work with Mr Roger.My special thanks to preeti who did an amazing job to get things done in the timely manner. If I had any questions, it was almost like she was waiting at her desk for my phone call to answer the questions immediately. The loans closed on time and without a glitch. I would highly recommend them to anyone
Ajith Nair
Ajith Nair
01:50 13 May 19
We highly recommend Roger for financing mortgage. Roger and his team were excellent through out the process and we had a very smooth purchase. They were always available when we had any questions. It was an amazing experience working with Roger and his team.
Pratul Patwari
Pratul Patwari
13:03 20 Jul 20
Roger Merchant and Priti Vin helped us in buying our first home. They understood our needs and took care of everything for us. They were very good with the communication through the process. They will always be my first choice in future for the mortgage services.
Sujatha Hariharan
Sujatha Hariharan
20:51 26 Jul 20
They were able to find me great rates. Service was quick and communication prompt. The loan process can be daunting as is the document gathering process but this was the easiest and quickest that I have experienced. Highly recommend!
Dinesh Nair
Dinesh Nair
15:53 30 Jul 20
I would definitely recommend MyLending Pal for all mortgage needs. It all started with a great competitive quote on refinance and excellent service continuing all the way until closing. Priti, Ricky and Roger were a pleasure to work with.
Manu Pushpanath
Manu Pushpanath
15:59 29 Jul 20
Great lender to work with. Right from document collection till closing they did it in 2weeks. The fastest closing I heard and get to experience myself. One improvement I suggest is it will be good if the closing attorney can come into the house for completing the closing. Considering current situation it will add a lot of value to the reputation. Thanks Milan and team for a good closing experience.
Sakthi S
Sakthi S
20:46 01 Sep 20
Would definitely recommend Roger and his team.Refinanced for the second time and with roger, I didn’t feel like I refinanced.The process was very smooth and fast.The rates were very competitive and it was amazingworking with Roger and his team.I’d recommend him for sure.
Sunny Patel
Sunny Patel
21:17 01 Sep 20
They were quick, courteous, and professional. They got me an excellent rate and helped make the process smooth. I would recommend using to my friends and family!
Emmitt Rathore
Emmitt Rathore
14:57 22 Dec 20
Roger helped us find an unbeatable rate!His decades of work in the industry made it easy for us to complete many processes with the lender, and helped us close on time!I will definitely be passing the good word around and recommending family and friends to him.I look forward to our next real estate transaction with them.
M Alamoti
M Alamoti
01:02 11 Jan 21
I had the experience of using their service. They know what they are doing. They are very honest, professional and caring. I have no doubt and hesitation to recommend them to anyone who is looking to purchase a home. I am very pleased for their service.
kondal rao
kondal rao
05:36 09 Apr 21
Roger and Team were very helpful. Proactive and honest service. My closing ended in no time. I made the right choice of choosing this team. Worth trying with this Team
Next Reviews Write a review
powered by Google

© 2021 MyLendingPal · Powered by 321 Web Marketing · Website Privacy Policy & Terms of Use