Owner / Sr Loan Officer | NMLS: 93076
| What should you ask a mortgage broker before you commit? These ten questions will tell you in fifteen minutes whether you are dealing with a pro or a salesperson. 1. How many lenders can you shop my loan to? A broker should name a real number. Ours is more than 50. A bank has exactly one: itself. 2. What is my total cost, not just my rate? A low rate with high fees can cost more than a higher rate with none. Ask for the full Loan Estimate. 3. Will you show me more than one option? You should see at least two or three structures side by side. One take-it-or-leave-it quote is a red flag. 4. Who will I actually talk to during my loan? If the answer is a call center, keep looking. 5. What could go wrong with my file? An honest pro will name your weak spots up front. Surprises in week three are a sign nobody read your file in week one. 6. How fast can you close? Then ask what their last five closings actually took. 7. What happens if rates drop after I lock? Ask about float-down options and renegotiation policies before you lock, not after. 8. Are there programs I qualify for that I do not know about? USDA, down payment assistance, buydowns. If they have not mentioned any, they have not looked. 9. Where are you located? Someone local answers when the deal hits a snag on a Friday afternoon. Someone in another state does not. 10. Why should I work with you? Listen for a real answer, not a slogan. We are the only locally owned independent mortgage brokerage in Cleveland County, and I will happily answer all ten of these on a phone call, whether you end up working with us or not. Call Mathewson Mortgage Capital at [PHONE] and put us to the test. |
Owner / Sr Loan Officer
Mathewson Mortgage Capital | NMLS: 93076
