A mortgage broker is an individual who works directly with various lenders to locate the perfect mortgage loan and interest rate to suit a particular borrower s financial needs. Mortgage brokers must also fulfill the legal licensing requirements for each state that they do business in, and this includes providing a personal financial statement to potential customers of Hervey Bay Mortgage Broker. This personal financial statement can reveal any possible debt issues such as past bankruptcies, student loan deficiencies, and other problems. It can also reveal any possible tax liens, judgments, and income or assets that will affect a mortgage lender s decision to approve a mortgage application. Mortgage brokers must pass rigorous ethics and fraud exams and pass written and oral examinations administered by government agencies.

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Mortgage Brokers

It is important that a mortgage broker near me can meet my specific needs for a loan officer. For example, my family and I need a mortgage broker who we can trust to manage our debt and protect our valuable credit score. Because we have both grown up in tough economic circumstances, I am concerned that our financial future could be negatively affected by irresponsible loan officers. In addition, we both want to make sure our property taxes are paid on time and for the right amount. We are also concerned about making sure our children are able to obtain a quality education, and we want to help them secure a good career after school.

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Fortunately, mortgage brokers have access to a variety of lending sources through their employers or by working for larger finance companies. This gives them access to many different lenders and often offers a wider range of interest rates and repayment options than individual lenders would allow. Because mortgage brokers negotiate with various lenders for the best possible interest rate, repayment options, and fees, we are able to acquire a mortgage that we would not otherwise qualify for on our own. Additionally, because we know our financial situation well and have carefully reviewed our financial documents before applying, we are able to select a lender with the least amount of concern and worry. This allows us to focus more on the process itself, rather than worry about the outcome.