Why you need a mortgage broker and where to find one | PF Buzz

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A mortgage broker doesn't loan money. Instead, he or she works with borrowers, assisting them in finding appropriately matched mortgage loans. Typically, a mortgage broker will learn the needs of the borrower and do the work of shopping for the best loan deal from lenders offering that particular type of loan. Brokers usually work with numerous lenders, attempting to match the right lender with each individual client. Some brokers actually have hundreds of lender contacts. Because they have so many lenders from which to choose, brokers are more likely to find loans for borrowers with special needs, like problem credit, than individual lenders.

That’s why one need mortgage broker.

Contact state and local boards of Realtors for lists of mortgage brokers in your area. Ask your own real estate agent or friends for references.