If you’re in the market to buy a home and need help navigating the complexities of a mortgage loan, you may consider working with a mortgage broker. As one of Kansas City’s best residential mortgage brokers, First Fidelis strives to understand your needs to find the right loan for you. Our licensed financial team ensures that you’re getting the best deal on your home loan, no matter your financial situation.
Working with a mortgage broker can give homebuyers many benefits that other lenders can’t. If you are buying a home and decide to work with a mortgage broker, here are a few tips to finding the right one for you.
1. Understand What a Mortgage Broker Does
Mortgage brokers simplify the home loan process and do a lot of the heavy lifting for homebuyers. Mortgage brokers typically have more flexibility when it comes to the types of loans they can offer compared to other mortgage lenders. Brokers search through many different loan options to find the best fit for you without being restricted to certain offers or lenders. For example, a loan officer at a bank can only offer options from their lending institution.
While your mortgage broker understands your needs and finds you the best loan option, they continue to help with your loan through the whole loan process. They pull your credit history, verify income, and help with underwriting services. Once the sale has been finalized and your offer accepted, mortgage brokers then prepare and submit applications to ensure your loan closes on time.
At First Fidelis, our team of expert mortgage brokers is licensed to serve families in Kansas, Missouri, Mississippi, Alabama, and Florida. We listen to your needs and work to find the best solution for you. Our vast network of lenders allows us to find the best mortgage loan to help you save on your new home.
2. Know Your Financial Situation
Buying a home is one of the biggest and most important financial decisions you can make, and it should not be made lightly. Before you start working with a mortgage broker, it’s in your best interest to understand your personal financial situation. This will help through the entire home buying journey, as you will know exactly how much you can afford.
If you work with a broker, they will check your credit score and verify your income early on in the homebuying process. If there are any issues with your finances, like credit card debt or a low credit score, you will want to be honest with them from the beginning.
A bad credit score should not keep you from purchasing a home. The mortgage brokers at First Fidelis are dedicated to finding you the right loan for your needs. We offer many loans to help clients overcome bad credit. With our wide selection of loan options, like USDA, Fannie Mae, or Conventional loans, First Fidelis can find you the loan that will work best for you.
A mortgage broker will take all of this into consideration when finding your home loan, and they can present options to make it work.
3. Work with a Mortgage Broker You Trust
A mortgage broker is often credited with being able to save money on your home loan by finding lower interest and mortgage rates. While this can be true, you want to remember a mortgage broker is paid commission based on the amount of your home loan. Some lending institutions may offer a broker higher fees for choosing them. Some mortgage brokers will want to maximize their earnings and income to get you a higher loan.
Whether you’re buying your first home or wanting to refinance, the mortgage brokers at First Fidelis always put your needs first. Our team is dedicated to getting you and your family the right loan based on your needs and budget.
Before you decide on a mortgage broker, it is important to do your research. Your home loan is a huge purchase, and you want someone you can trust to help you make the right decision. If you’re unsure of who to work with, ask your friends and family for referrals. Your real estate agent is also a great resource and may have a few recommendations.
If you’re looking to work with a mortgage lender in Kansas City, consider First Fidelis. As Kansas City’s most-trusted low-interest refinance lender, we sort through loan options that fit your needs best, expedite the approval process, and help close your loan within 30 days. Our licensed mortgage brokers assist families in Kansas, Missouri, Mississippi, Arkansas, and Florida in their search for the right loan for their next home. Call us at 913-205-9978 to schedule your appointment today.