Dispelling Common Mortgage Broker Myths

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Here at BRM Lending, we want to help you finance your dream home, and as an independent mortgage broker, we have the financial tools and expertise to help you do so. In our experience, many people choose not to seek out assistance from mortgage brokers due to misconceptions about how they work or who they are intended to serve. In this article, we’ll be going over a few of these common myths and giving you the accurate information you need to make the best choice for your needs.

Dispelling Common Mortgage Broker Myths

 

  • Myth #1: Mortgage brokers lack effective tools. One myth that we at BRM hear a lot is that mortgage brokers don’t have the same tech capabilities as larger lenders. We can assure you that this is not true–remember that our success as mortgage brokers depends on delivering the best experience and results for our clients, so we make sure to invest in the latest and best technology to do just that.
  • Myth #2: Mortgage brokers are harder to work with than big lenders. Another common myth about mortgage brokers is that they are harder to work with than larger, national lenders, but in reality, the reverse is often true. As we mentioned above, our success as independent brokers depends on satisfying our clients and building long-lasting relationships, so we make every effort to give you the best possible experience. Unlike a larger lender that treats all of its clients as interchangeable, our team is committed to giving you the personalized service and expert advice you need to achieve your unique financial goals. We will take the time to understand your goals, then help you take steps towards achieving them, and communicate with you at every step along the way.
  • Myth #3: Mortgage brokers have less control than direct retail lenders. A third myth that we at BRM hear about our business is that independent brokers like ourselves have less control over our operation than direct retail lenders do. As with myth #2, the opposite is usually the case. For instance, while retail lenders often push a limited selection of products, our team has the freedom to shop a wide range of financial institutions to get you the best option for your specific needs.