When you’re in the market for a home in Bethesda or another DC area, there are many variables to keep in mind. You’ll likely be fine tuning the must-haves of your new space—how many bedrooms and bathrooms you want, and what specific amenities are right for you.
But before you pick out that ideal home, you’ll need to decide on your ideal mortgage. For many, this task can be just as overwhelming as deciding on a property. That’s where a mortgage broker comes in.
Choose a Mortgage Broker
Much like a stockbroker helps you buy stocks, a mortgage broker can help you purchase a home loan. Because the broker has access to many lenders, you will be able to select from a wide variety of loan types and terms that fit your specific needs, with a knowledgeable guide by your side helping you make an educated choice.
Helpful Tip: Shop Around for Multiple Brokers
That said, brokers are not obligated to find the best deal for you. This is why it is important when looking for a broker to contact more than one, just as you would any other lender in the Bethesda area.
Ask the Right Questions
How do you find a broker with a great fit? Compare their fees and ask questions, particularly about how they will be paid. Sometimes their fees appear as points paid at closing or the compensation is factored into the interest rate, or both, so read the fine print and ask questions to make sure everything is clear.
It’s also alright to haggle with the broker and the lender for the best deal for you.
Want a List of Trusted Professionals? Ask The Estridge Group
As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you, including a list of trusted professionals in the Bethesda area.
Feel free to contact me any time to learn more about this important information regarding mortgage brokers, and be sure to forward this article on to any friends or family that may be interested as well.