4 Benefits Of Working With An Independent Mortgage Broker

From Drew’s Notebook

I recently helped a family purchase a home. Nine days from closing, with a closing disclosure in hand, our lender changed their guidelines and added new requirements in response to COVID-19. The lender then denied the loan. Had I worked directly for this bank, that would have been it. Done. Instead, I immediately took the file to another lender and had it cleared to close in two days.

The above story illustrates why it’s so critical to work with an independent mortgage broker who works for you, not the bank.

Your Mortgage Broker Should Work For You

Independence Is Agile

Independence means agility. An independent broker is able to partner with multiple lenders. This gives them more freedom to make sure that your mortgage is the right fit for you, with the best possible rate. It also lets them pivot quickly and effectively if need be! 

Your Needs Come First

An independent broker is loyal to you as their client, not the bank, giving you access to the best loan options for your situation. This benefit goes beyond just securing the best interest rate and mortgage payment. Working with a broker can also benefit homebuyers with imperfect credit or income issues who may have a hard time getting a loan approved on their own with a bank.

You Have Better Control

An independent broker has a great deal more control over their process and pipeline than a retail lender or bank would. A retail lender will push their own products and options, whereas the more diverse selection offered by an independent broker means you get a loan that’s a better fit for you.

Benefit From Experience

By virtue of their experience working with multiple types of clients and multiple lenders, an independent broker will be more knowledgeable than someone who has only worked for one lender. As an independent mortgage broker, Drew of Nordic Home Loans has built his own business after years of experience in finance and mortgage. Let that knowledge benefit you!

When looking for the right home loan for your financial health, you need to work with someone who is in your corner, fighting with your best interests at heart. Learn more about working with Nordic Home Loans for your home mortgage.