Holden Lewis
speaker
125 appearances
1 recordings
1 series
first heard Apr 2023
last heard Apr 2023
Holden Lewis’s voice in public audio — every appearance, attributed to the second.
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Appearances
So they take your application information,
and apply it to those different lenders.
And they search for that best deal.
People would use a mortgage broker because they might have a really complicated financial life.
That's one real big reason for using a broker.
For example, let's say you're self-employed and you have a pretty complicated tax form.
Mortgage brokers, they can spend more time assessing your financial position and they know which lenders are willing to do a loan for someone with kind of that complicated financial life.
For people like me who are just, I have a job, I get a W-2 form, everything is really straightforward.
That's kind of a plain vanilla mortgage.
I can get that at a regular old bank.
I could find one through a broker.
But if I were self-employed and I had a company vehicle and I had tax deductions related to that and all sorts of complex ways to just count what my income is, a mortgage broker might be a better bet.
The mortgage broker works on commission.
So they collect a commission from the bank.
That's really not all that different from, say, a loan officer at a bank who gets paid a salary.
And those costs, those commissions or those salaries, essentially, you know, you end up paying for those when you close the loan in terms of fees and the mortgage rate.
Absolutely.
People should apply with multiple lenders.
There has been research on this.
Freddie Mac has conducted it at least twice.
Showing 81–100 of 125 · page 5 of 7
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