Question 1

What does a mortgage broker actually do?

Accepted Answer

Think of us as your "personal shopper" for home loans. Instead of working for one bank with one set of rules, we work for *you*. We access a wide network of wholesale lenders to find the lowest rates and best terms for your specific situation. We handle the heavy lifting—gathering documents, analyzing credit, and submitting your loan to underwriting—so you get to the closing table with less stress.

Question 2

What does a mortgage broker actually do?

Accepted Answer

Think of us as your "personal shopper" for home loans. Instead of working for one bank with one set of rules, we work for *you*. We access a wide network of wholesale lenders to find the lowest rates and best terms for your specific situation. We handle the heavy lifting—gathering documents, analyzing credit, and submitting your loan to underwriting—so you get to the closing table with less stress.

Question 3

How can a broker offer lower rates than a big bank?

Accepted Answer

It comes down to overhead. Big banks have to pay for physical branches, massive advertising budgets, middle-management salaries, and shareholder dividends. They pass those costs on to you in the form of higher rates (often 2.5% profit or more per loan). As an independent broker, we operate with low overhead and access "wholesale" rates, passing those savings directly to you.

Question 4

What does a mortgage broker actually do?

Accepted Answer

Think of us as your "personal shopper" for home loans. Instead of working for one bank with one set of rules, we work for *you*. We access a wide network of wholesale lenders to find the lowest rates and best terms for your specific situation. We handle the heavy lifting—gathering documents, analyzing credit, and submitting your loan to underwriting—so you get to the closing table with less stress.

Question 5

Can you provide a Pre-Approval Letter for home shopping?

Accepted Answer

Absolutely. In fact, our pre-approvals often carry more weight because we’ve already run your file through an automated underwriting system. We assess your income, assets, and credit upfront to generate a strong Pre-Approval Letter, giving sellers confidence that your offer is solid.

Question 6

How do you get paid? (And does it cost me extra?)

Accepted Answer

Mortgage brokers are usually paid a commission by the lender, not by you. However, here is where we are different: Most brokers charge high commissions that drive up your interest rate. **We don’t do that.** We cap our compensation at 1.375% (with a strict maximum of $7,000 per loan). By keeping our earnings reasonable, we keep *your* interest rate lower than the competition.

Frequently Asked Questions

Your questions,
answered

Frequently Asked Questions

Your questions,answered

What does a mortgage broker actually do?ExpandCollapse

What does a mortgage broker actually do?ExpandCollapse

How can a broker offer lower rates than a big bank?ExpandCollapse

What does a mortgage broker actually do?ExpandCollapse

Can you provide a Pre-Approval Letter for home shopping?ExpandCollapse

How do you get paid? (And does it cost me extra?)ExpandCollapse

Your questions,
answered