WHY USE A MORTGAGE BROKER?

Independent mortgage brokers like me have had a significant positive impact on the lending industry.  Today the use of a professional mortgage broker is one of the key strategies used by sophisticated borrowers like you.

Bryan Parmley

What's the difference between a mortgage broker and a direct lender?

As your mortgage broker, I will counsel you on the loans available from different lenders, take your application, and process the loan.  Most direct lenders only offer a small number of loan programs.  This often excludes many borrowers.  As an independent mortgage broker, I deal with dozens of lenders.  I can find the lenders who specialize in various market niches that many other lenders avoid, such as loans to applicants with poor credit ratings, loans to borrowers who do not intend to occupy the property, loans with minimal or no down payment, and so on.

Will I save money going directly to a mortgage lender?

Unless you are a very astute shopper who is willing to contact hundreds of lenders and enjoys devoting a lot of time to the task of evaluating different mortgage programs, you will probably do better dealing with a mortgage broker.  Mortgage brokers do not add any net cost to the lending process, because they perform functions that would otherwise have to be done by employees of the lender.  Furthermore, because mortgage brokers deal with multiple lenders -- in a typical case, 25 to 30, sometimes more -- they can shop for the best terms available on any given day.  Parmco Mortgage deals with over 25 lenders, drawing on both local and national institutions.

What is a Mortgage Broker?

A mortgage broker is an independent real estate financing professional who specializes in the origination of residential mortgage loans.  Mortgage brokers normally pass the actual funding and servicing of loans on to "Wholesale Lending Sources."  As your mortgage broker I'll combine my professional expertise with direct access to hundreds of loan products.  This is how I provide the most efficient way to obtain financing tailored to your specific financial goals.

What Do Mortgage Brokers do?

In the volatile home-lending market, I can serve as your personal financial "consultant," offering you security, safety, and peace of mind.  One of my most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns.  I do this by wading through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.

Brokers handle the Details!

There are literally thousands of variables that can affect the outcome of your mortgage transaction.  That's why you need a mortgage broker like me to act as liaison between the ultimate lender, their attorney, your attorney, your real estate agent, the appraiser, credit agencies, the underwriters, the processors, and any other services which may effect your transaction. 

I will also:

      Discuss and explain financing program options

      Inform you, in writing, of lock-in options

      Explain all documents of the loan application

      Explain all associated costs of the loan application

      Explain the disbursement of all loan application fees

      Explain the loan process, from application to closing

      Provide you with a good faith estimate of cost and fees

      Communicate with you throughout the loan process in a timely manner

      Coordinate the final closing of your transaction