To Go Through A Mortgage Broker or Not

by Beth Belloise 11/01/2019

When you begin shopping around for an ideal lender to finance your dream of home ownership, you will come across mortgage brokers. Much like their counterparts in the insurance industry or stock market, they act as a link between buyer and seller. 

However, why go through them if you can make the purchase directly? Why should you pay anyone a commission to do something you can do yourself? Moreover, then, isn’t there the possibility that they will recommend a lender because of the commission they get from them, even if they don’t offer the best interest rates? It’s certainly possible, but consider the following first before you decide to go it alone.

Hassle-free application

If you have ever gone through the mortgage application process from a traditional lender, you don’t need anyone to remind you how tedious it was. Filling form after form and searching for document after document. A broker can help reduce the time you spend on this process by telling you what is required beforehand and giving guidance.

Industry knowledge

Mortgage brokers ordinarily have years of experience in both the real estate and financial services industries. They will know much more about what’s trending in the area of property purchase and selling than you do as that is their bread and butter. 

A fast-talking loan officer from a lender can convince you to take on a product that is a less than optimal choice for your situation. Remember, they are salespeople too. However, in the ideal scenario, a broker will look at the property you want to purchase, look at your financial status and personal data and find you a package that best caters to all these factors. They have access to lenders across the country so they can quickly get you a mortgage product that has lower interest rates and fees while taking into consideration things like your credit rating and level of income.

Customer service

After you close the deal, you may struggle to get an audience with that loan officer if you were dealing with a big bank. The beauty with brokers is that they’re usually small companies, and this allows them to have closer contact with their customers. On the other hand, since they work closely with lenders, they know precisely who in the bank to contact when you need any assistance.

Take time to find out what terms lenders offer directly from them before settling on any mortgage broker.

About the Author

Beth Belloise

Beth has been a Florida resident for more than 40 years and knows the Tampa Bay area intimately. She began her career in real estate in 2001, obtained her broker’s license in 2007 and started Belloise Realty Tropical, Inc. in 2008. Beth recently formed Tropical Life Realty, Inc. a service driven, innovative brokerage geared towards selling the Florida Tropical Lifestyle. Though serving all the West Pasco and Northern Pinellas area, Beth and her team specialize in waterfront properties. She has been a resident of the Gulf Harbors waterfront community since 2000 and is passionate about the west coast of Florida & Gulf Harbors tropical lifestyle, incredible sunsets, and wonderful community. If you were to ask Beth just what she loves about living in the area, her reply would be quite simple, everything. As a person who is naturally drawn to the water and sun, Beth takes full advantage of all the amenities the Florida coast area offers. From boating and fishing in the Gulf of Mexico to watching the dolphins swim in her back yard, it’s rare to find this nature lover indoors. For Beth, every aspect of her home, the picturesque sunsets, sparkling gulf waters, natural wildlife and the genuine people, allow her to stay grounded and focused on what really matters. The west coast of Florida is a place like no other to live, vacation or retire.   

Beth has a passion for being the very best at what she does. She and her agents stay up to date daily on what new homes have gone on the market and what the market value is for home sellers. Tropical Life Realty is committed to the philosophies of honesty, integrity and professionalism. Their business approach is founded on building lasting relationships based upon commitment and trust. Clients appreciate their down-to-earth style, which gives them a high degree of confidence and trust knowing that Tropical Life Realty always has the client’s best interest at heart. Beth’s years of experience, combined with hers and her agent’s genuine approach, make Tropical Life Realty uniquely qualified to connect extraordinary people with the extraordinary tropical lifestyle. Beth and her agents “live and breathes real estate” 365 days a year, they are all very passionate about their neighbors and the community.  

Whether you are buying or selling a home in this area, give Tropical Life Realty, Inc. a call today. Tropical Life Realty provides a higher level of service that is a breath of fresh air during your important transaction to a new home or selling yours. Call Tropical Life Realty today — you’ll be glad you did so that you can start living the Tropical Life! 

Real Estate Experience
• Broker
• Listing Agent
• Buyer’s Agent
• Short Sales
• HUD homes
• New home construction
• Investment properties
• Land
• Re-Sale homes
• For sale by owner homes
• Bank-owned properties
• Commercial property
• Property management

Beth is also a licensed Notary.