Things You Should Consider Before Working with Mortgage Broker

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Things You should Consider before Working with
Mortgage Broker
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What is a mortgage broker?

• Acts as a mediator between you and potential
  lenders
• Mortgage brokers in Sydney are licensed,
  financial experts
• They do all the legwork from gathering
  documents from you to pulling your credit history
  and verifying your income and employment and
  use the data to apply for loans on your behalf
  with different lenders in a short time frame

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• If your business involves movement and machinery,
  it is critical that you get the right Mortgage
  financial solution for vehicle and equipment
  finance which works for you in the long run.

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How does a mortgage broker get paid

• Charge a commission for their services
• Charge a loan origination fee, which can be
  about 1 of the loan amount and is paid by
  the borrower at closing
• Sometimes, though, mortgage brokers confer
  no-cost loans so you dont have to shell out
  extra money up front the broker will instead be
  paid by the lender after the loan closes

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Advantages of using a mortgage broker

• For beginners, a mortgage broker acts as your
  personal loan concierge and does all the work
• Most mortgage brokers have relationships with
  several local, regional and even national
  lenders, and they can tap those links to get some
  loan fees waived for you
• Youll also save time by using a mortgage broker
• it can take hours to apply for loans, and then
  there are the hassles of communication involved
  in underwriting the loan and ensuring the
  operation stays on track

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Select My Loan Pty Ltd www.selectmyloan.com.au
1800 883 007 info_at_selectmyloan.com.au