Our backyard extends beyond the area behind our house, it includes the places we frequent, the places we visit, the places where we live life. This blog is all about the things we find in our backyard and beyond.

Tuesday, October 30, 2007

Mortgage Brokers

I am waiting for a phone call regarding a loan and I am on pins and needles. If this lender does not approve our loan, that may mean we have to start the application all over again, elsewhere. Applying for a car loan was so much easier! All we had to do was sign a piece of paper from the dealer and we were driving that car out of the lot! I suppose since real estate proper is more expensive and involves a lot more than just a box on wheels, we'll have to resign ourselves to jumping through the hoops.

One way to make your hoop jumping easier is by going to a mortgage broker. Mortgages can get complicated and it helps wen there is someone there to help you navigate the maze. With one simple application, they can search for just the right type of mortgage to fit your needs. If one lender is not right for you, you won't have to start the whole process all over again like I'm afraid is going to happen to us. Another advantage to having a broker is that they can help you find just the right type of mortgage to fit your situation. Who would have thought there were so many types of loans out there? Even with this one lender that we are with now, she steered us to another type of loan rather than what we went in there to apply for. Why? Because she found that by switching to another type of loan, we can save on interest and get a tax break. Already, she's done something advantageous for us and she's not even a broker. Just think of the things that your broker can offer that you may not have even considered just because you didn't know about it.

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