Mortgage broker profession

Quite popular in recent years has become a mortgage broker profession. This person - the mediator, the assistant-to-date on the issue date of registration of mortgage loan. But manifests itself as a mortgage broker, in fact, and that it is his duty? Consider these issues step by step: How it works a mortgage broker is the same everywhere. Initially, during the conversation with a client who intends to take a mortgage, it turns out, what kind of apartment he intends to buy, what sum of money has at the moment and how much to pay each month to calculate the loan. Next, we consider the options offered to explain the mortgage loan borrower, what would be required documents, certificates, bank statements for the design and where to get them. Since the banks, there are many nuances with the required documents, mortgage broker can tell right away that still might need. For example, the list of documents required by the bank can not be referred to the information confirming the payment of previously issued loans. Least of the fact that a mortgage broker rather well informed about the services provided by the bank and was aware of the real estate market situation better than banks. So he can pick the most efficient variant of the transaction, thereby saving you money, time, and, most importantly, nerves. If you already have a house and you want to take credit for the improvement of his condition, then no one will solve this problem better than a realtor. In our country, the mortgage market is just beginning to develop, respectively, at the cost of brokerage very different. There are three options for the provision of brokerage services: The first would cost about $ 500. It includes a search of the bank, provided the most competitive loan programs. The second provides for the payment of real estate services only, provided that fully engage all: Bank of search, registration and collection of documents that accompanied the loan process, and design of the loan, will the agency. In this case, a mortgage broker services free of charge. The third option - receiving and processing the loan secured by your existing personal housing. In this case, the money received from the security taken shelter, go to the purchase of new, or if you want the option to develop their business. This service is assessed a fine of $ 3,000 and above. Summing up the cost of services provided by a broker, we can conclude that the amount depends on which function is to execute a mortgage broker. Often, all the same broker takes a fixed percentage of the loan amount - 1-2% for a standard consultation and find possible profitable options and 3-5%, if you need more detailed work on the verification of the apartment. But sometimes, when customers pay a fixed amount strict. Can you trust a mortgage broker? This question is individual and depends on who you get. But it is worth noting that the activities of brokers, regulations spelled out in the Civil Code, and the training itself is conducted by the International Academy of brokers, which is issued at the end of official identification. Basically the same, the brokers - the workers in good faith and are interested in working as a mortgage bank and a borrower. Some brokers banks go forward, in turn, brokers increase their customer base. Also, brokers can refer to people who just need help in collecting documents. Summarizing, we can say that the mortgage broker - a person who knows the ins and outs of mortgage loans.