Mortgage Broker

A Mortgage Broker is a middleman who acts as an intermediary between borrowers and lenders in the mortgage loan process. Unlike loan officers who work for specific banks or lenders, mortgage brokers have access to a wide range of products and financial institutions. This enables them to offer a broader range of mortgage options to borrowers, depending on their creditworthiness and needs.

The Role of a Mortgage Broker

Mortgage Brokers are licensed financial professionals who collect the necessary borrower information—an application, credit reports, income documentation and more—and use this information to apply for loans with multiple lenders on your behalf. This process allows them to find loans with terms and rates that best fit the borrower's needs. They then receive a commission from the lenders when the mortgage is finalized.