Why Brokers Are Better
As a mortgage broker, Mindful Money can help clients through the home buying process, finding the right mortgage and getting the lowest costs and best rate available.
There are many things to consider when buying a home. Clients must get prequalified, find a great realtor, and shop for their dream home! The home-buying process can be challenging to manage alone. The first step many prospective home buyers take is getting prequalified. Buyers often think that speaking with their bank's mortgage department or a mortgage lender is the best option for home financing. While this is a viable option, there are other or better options. As a mortgage broker, Mindful Money can help clients through the home buying process, finding the right mortgage and getting the lowest costs and best rate available.
What Is a Mortgage Broker?
A mortgage broker is also a shopper. Mindful Money works with over 40 lenders and will find the best fit for clients and their unique financial situations. We save time and money while guiding clients through the home-buying experience and aim to make this exciting time happy for clients and their families. Big banks and mortgage lenders only sell their loan products, and they do not shop around to find the best loan.
Why Are Brokers Better for Buyers?
As a mortgage broker, Mindful Money works with wholesale lenders, saving clients money. Many wholesale lenders do not work with big banks or mortgage lenders or provide consumer-direct mortgages, meaning some options are unavailable to just any lender. As a mortgage broker, Mindful Money's rates and costs are often lower on the wholesale side than the retail side of a mortgage bank or lender.
Imagine the costs of having a brick-and-mortar mortgage bank or lender. They have lots of overhead and costs paid for by the consumer. Wholesale rates are lower because there are no additional expenses like retail lenders. When working with a big bank or mortgage lender, clients can be charged fees that help them in their operations. These are processing, underwriting, and document fees. Brokers do not have these fees. The only fees are third-party fees like credit, appraisal, title, escrow, and flood certificates. These and all junk fees will happen with a big bank or mortgage lender. Brokers are better; we save others money!
Why Get a Broker Right Now
Changing Rates
Rates change daily, sometimes two or three times a day. They are rising, but some days, they are dropping. Typically, rates average five to six percent, depending on credit scores, down payment, and loan type.
Brokers carefully monitor rates and verify clients still qualify for the prequalified amount while shopping for a home. This is even more critical now, as finding the best rate takes more time and effort.
Custom Options
As an experienced mortgage broker, we consider specific financial goals and help clients find the best mortgage. We have access to many lenders, which allows us to see who has the quickest closing times, lowest costs, and best rates to customize the perfect mortgage.
New/Different Loan Programs
This is the crucial advantage of a mortgage broker. We offer loan programs that utilize bank deposits rather than tax returns to calculate self-employed borrowers. We also offer investor loan products where only rental income is used to qualify for the mortgage, and the list goes on and on.
Mindful Money is Here to Help
Whether a client is a first-time home buyer or looking to refinance, they have a lot on their plate. They want to collaborate with a mortgage broker who can give them the best rates, terms, and the lowest closing costs as quickly and efficiently as possible. As a seasoned mortgage broker with nineteen years of experience, we can help.
If you have any questions about the home-buying process or want to work with a mortgage broker, please don't hesitate to call or email us at sam@mindfulmoneyusa.com!
* Specific loan program availability and requirements may vary. Please contact the mortgage advisor for more information.
Mindful Money, led by experienced mortgage broker Sam Cooley, is a woman-owned business serving Arizona, Colorado, and California. With a focus on personalized service and financial empowerment, Mindful Money offers a full suite of mortgage solutions, including Conventional Mortgages, FHA Mortgages, Reverse Mortgages, VA Mortgages, and Non-Qualified Mortgage Loans. Whether you're a first-time homebuyer, a veteran, or someone exploring refinancing options, Mindful Money provides expert support every step of the way.
