There is no one mortgage solution that works for everyone. But if you go directly to the bank, you may leave some options on the table. Find out how an independent broker can help you weigh all your mortgage options and find the one that is best for you.
Why Use a Broker?
The simple answer to why a buyer should use a broker is more mortgage options. A direct lender like a bank or credit union only has one set of financing options available. An independent mortgage broker can multiply your options. At First Securities Mortgage, we work with over 15 different lenders and programs. We can help you sift through all those choices to find the mortgage options that best suit your particular financial circumstances.
Adjustable or Fixed Mortgage Rate
The traditional 30 year fixed mortgage may make sense for long-term buyers in a favorable financial climate. But if you are buying when interest rates are high, or if you plan to move again soon, it may not make sense to lock in for the long haul. An adjustable rate mortgage provides flexibility that can help some buyers take advantage of changes in the market.
Long-Term or Short-Term Mortgages
You may want to pay your home off quickly if you anticipate big expenses (like college tuition) in your future. Or you may want to spread out your payments to afford more home with a lower monthly payment. An independent mortgage broker can help you consider your budget and your future goals to decide what term makes the most sense for you.
Zero Down Payment Options
Not everyone has a lot of money to put down on a home. Closing costs, insurance, and decorating costs can all eat into the capital available to invest. Many lenders have low or even zero down payment options available, but they can sometimes come with a higher interest rate or monthly payment. An experienced mortgage broker can help you consider all the costs of home ownership and decide if a zero down payment option is right to you.
FHA, VA, and Rural Housing Loans
Some buyers fall in special categories, like first-time home buyers, veterans, or rural developers. These special programs can save you money up front, and over time. But if you use a direct lender, you may not even find out those options exist. Our independent mortgage brokers take the time to get to know you and your needs, so they can find all the hidden options.
Buying a home is a big investment. It is worth the time and effort to find the financing options that work for you and help meet your financial goals. But you don’t have to make that decision alone. Apply now to get assigned to a loan officer at First Securities Mortgage who can help you explore multiple lenders and find the option that is best for you.