Mortgage Broker

Since the Independent Mortgage Broker WORKS for the CONSUMER and NOT the LENDER, they have several choices from where they ultimately send the loan to. Since the lenders are getting a lot of business from the independent mortgage broker they are likely to be more diligent in responding to your application. Also, the very lowest mortgage interest rate may not be the very best choice for you. Working with a knowledgeable independent mortgage broker who can apply with multiple lenders will also give you a good idea of which lender is the best communicator and best to work with overall for your unique situation.  Since different lenders are better for different borrower situations.  Such as quick fast closing timelines, and streamlined limited paperwork, for situations where time is of the essence.  Or other lenders that may provide the rock bottom cut-throat discount rates but require a ton of paperwork and letters of explanation and extensive income documentation, those lenders may be a good option if the borrower/consumer is not in any hurry and can afford to delay closing and is willing to come up with all the needed paperwork.  So working with a mortgage broker helps the consumer navigate the sea of lenders and loan product choices out there.