How to Hire a Commercial Mortgage Broker?
Inquire About Their Biographical Information and Resume It is important to remember that you are recruiting them to work for you, so question them about their previous work experience just like you would during a conventional job interview. This will assist you in breaking down their previous experience and determining whether or not they are a suitable fit for the deal(s) you are currently working on.
References For the Broker Should be Checked According to the experts, you should consider how long it took the broker to acquire the loan as well as how satisfied the consumer was with the conditions of their mortgage. When it comes to conditional mortgage offers, you should get them within three days. If your broker hasn't been able to produce one in the past, you may want to seek elsewhere.
First and foremost, find out all you can about the broker's background and how long she has been in the company. Inquire about loans she has closed in the past and request that they be shared with you. Check with them to see if they can provide you with a few references from previous clients or real estate agents with whom they have worked who are prepared to share their experiences.
How Long Have You Been in The Business For Yourself?
What Types of Lending Packages Do You Have Available?
Conventional loans, FHA/HUD loans, bridge loans, Fannie Mae/Freddie Mac loans, and construction loans are examples of loan kinds offered by such a great mortgage lender.
What About Your Charges? You'll want to find out how yours is compensated in order to determine whether or not he or she has a preference for a particular lender. Suppose a lender compensates your broker for each mortgage he or she originates. That would raise suspicions. It is possible that you will be directed to a certain lender, even if that lender is not the best choice for you. You save money by not having to pay the broker, but the long-term mortgage payments may be greater than they would be if you chose a different option.
The Team
BEN GERRITSEN Owner at Mortgage Miracles Happen, LLC
Mortgage Miracles Happen is ran by Ben Gerritsen. Ben has been in the mortgage business for nearly two decades. Ben has helped many people buy homes and refinance to better their lives. WWW.WEDOHOMELOANSFORYOU.COM