Tips on Selecting an Arizona Mortgage Broker or a Mortgage Banker

A Few Tips on Selecting an Arizona Mortgage Broker or a Mortgage Banker

Not only is purchasing a new home no easy task, deciding who to have help you with the process can be even more taxing. Here are just a few tips and tricks to help you in your decision on whether to utilize the services of an Arizona Mortgage Broker or a Mortgage Banker.

1. Think about this: do you want the absolute best available rate? The easy answer is, “well of course I do!” but think about it a little more. If you've already bought a home or if you know of a good solid lending institution that you've worked with in the past or trust to the utmost degree, you may not mind paying a smidge higher interest rate. Also, sometimes the best rate does not come the quickest. A mortgage banker can cut down the time of the loan processing by about a week because they work for a lender who will loan you the money directly.

2. Do your homework! Ultimately, it doesn't matter whether you choose an Arizona mortgage broker or a mortgage banker, but what is important is that you do your homework. Can the person you’re using answer all your questions? Do they have integrity? Are they honest in their dealings? Those are more important considerations.

3. Don’t get pressured into making a hasty decision. A good Arizona mortgage broker will not pressure you or use those annoying sales tactics to get you to move quickly on a house. Do not go through with a loan you don’t understand or don’t know everything about. Remember, you are not committed to accepting a loan or buying a home until you sign on that dotted line.

One Last Thing To Consider Regarding Arizona Mortgage Brokers

Arizona Mortgage Brokers will do the shopping for you. If you’re dead set on buying a home, another week shouldn't matter a whole lot in the process. After all, you’ll be paying on this home for the next 30 years. If a low interest rate is what matters most (it can make a HUGE impact on your monthly payment), go with a Mortgage Broker who can help you find just that.

For Selecting an Arizona Mortgage Broker

Here are just a few tips for you when considering the use of an Arizona mortgage broker in the home buying process:

1. First, ask your friends, family and neighbors for references for a broker. These people are valuable resources that you can trust and will likely lead you in the right direction. You’ll be surprised at how many connections they might have!

2. Always remember, if it sounds too good to be true, it is! Don’t be suckered into using a specific Arizona mortgage broker because they promise you bottom of the barrel interest rates. Also, do not pay into any upfront fees from a broker. You are not committed to them until you sign all the final paperwork and their origination fee will be paid out of the loan. A trustworthy Arizona Mortgage Broker Setabay Home Loan will not charge you fees up front, but rather help you through the process while you feel comfortable.

Arizona Mortgage Brokers Are Here to Help

Don’t get too overwhelmed and keep in mind that Arizona Mortgage Brokers in Phoenix are here to help you. They won’t pressure you to move too quickly on a home and they will do a lot of the confusing paperwork for you. They will work with the lender and  it is their duty to find you the best interest rate possible, so hold them to it! A good broker will be on the ball, move you through the process as quickly as possible, and represent your financial situation to the lender in the best way they know how. Even if you have a bad financial history, a broker can help you navigate the home buying and loan approval process.

Dennis Dahlberg
Broker/RI/CEO/MLO

Setabay Home Loan
Tel:  (623) 582-4444 | Fax: (888) 279-6917

www.setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027