Unless you live under a rock (like I do), you’ve probably heard the term “Mortgage Broker” get thrown around on more than one occasion. You may have heard good things, and you may have heard bad things…

Opinions aside, a mortgage broker is essentially a middleman between the borrower/homeowner and the bank or mortgage lender. They work directly with both the consumer and the bank to help consumers qualify for a mortgage, whether it be a purchase mortgage or a refinance.

These  entities don’t all communicate with one another. Instead, the mortgage broker communicates with both parties separately, so you’ll never actually speak to the bank or lender originating your home loan.  The reason this is beneficial is because you will find that bankers and large lending institutions tend to treat you like a “number” rather than a person who is making a large financial decision.  The beauty of this whole system is that the Mortgage Broker doesn’t have any additional charges beyond that of regular lending institution (not Executive Mortgage Anyway) the lender pays them their fee and gives them a whole sale rate (which is lower than that of a retail rate you would receive at a branch location.

Here is how it works:

 

 

Pretty cool right?  At no additional costs you have access to programs like WHEDA No Down Payment Loans  and many other Loan options that a regular bank wouldn’t provide; and on top of that you don’t have to get your credit checks multiple times by going to additional financial institutions and the broker does the shopping FOR you.

Another distinct advantage is the way a mortgage broker operates.  Because they are commission based they are often interconnected with an in-depth network of financial advisors and real estate agents, and not only that, but they are often the better real estate agents and professionals within their fields in the area.  This is because a brokers lifeblood depends on the relationships he establishes.

It’s because of this simple fact that we offer better rates and more options.  Considering we are a family owned company forever (23 years)

 

Want to know more about how this works?  Contact me here

 

 

  www.mortgagegreenbaywi.com

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 Justin Scott

Loan Officer

NMLS 878581

  1. C) 920-530-4484
  2. O) 920-490-8823
  3. F) 920-490-8967

Executive Mortgage

NMLS 271650

909 . E Walnut Street

Green Bay WI 54301