Mortgage Blog

Estero Mortgage Broker

One of the many decisions you will have to make when shopping for a mortgage is whether to go directly to a lender or use an Estero mortgage broker. For many potential home buyers, there are significant benefits to dealing with a mortgage broker instead of searching for a lender.

One-Stop Shopping

Borrowers often are concerned about going to multiple lenders to find the best loan program. One of the many benefits of working with an Estero mortgage broker is they have access to numerous lenders. A mortgage broker will take a look at your initial loan application, note the unique problems you may have obtaining a lender and then present your loan package to a lender they have vetted. Mortgage brokers have a unique understanding of what each investor will accept; this means they have the ability to find a lender that can help even when you have unusual financial needs.

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Brokers Offer Access to Unique Loans

If a potential homeowner goes directly to a bank or mortgage company for a loan, they quickly learn that oftentimes, there are only a couple of mortgage programs offered by that company. This may work out great if you have perfect credit, a long employment history, and can provide all documents requested by the lender. However, for those borrowers who face unique challenges, an Estero mortgage broker can be very helpful. Some of the hard-to-place loans we can help with include:

  • Interest Only Loans — in some instances, you may need a loan offering that includes an interest only payment. These loans balloon at the end of a specific term; many traditional mortgage lenders do not offer these loans.
  • Foreign National Loans — when purchasing a property in the U.S., foreign nationals often face substantial issues. An Estero mortgage broker can guide you through this challenging process.
  • No Income Verification Loans —when someone is self-employed, they often are rejected for a mortgage loan because they write off so much of their income. We have access to lenders who will require only bank statements as a verification of income.

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Do Not Overlook Additional Benefits

There are other advantages to working with an Estero mortgage broker. For example, rather then dealing with a lender one-on-one, a mortgage broker will act like a facilitator between you and the lender. Typically, this will help make the entire process run more smoothly. Generally, your mortgage broker will review your application, tell you what documents the lender may require and submit a full package to the lender for approval. This helps streamline the entire process; loans handled through a mortgage broker may close faster because of this.

While some homeowners and homebuyers are concerned about the fees charged by a mortgage broker, it is important to remember that we do not charge any fees upfront. In fact, your Estero mortgage broker only gets paid the amount you have agreed once your loan is fully funded.

Rates, Programs, Guidelines are subject to change without notice. Please call today for current program offers.

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