Delray Beach is home to some of the most sought-after real estate in the United States. The area, located on the Atlantic Ocean between Boca Raton and West Palm Beach is a first-class resort destination and home to a vibrant, sophisticated downtown. People flock to the area for its fine dining, shops, boutiques, spas, salons, galleries and museums. If you are considering a new home in South Florida and need a mortgage broker in Delray Beach, call Ace Mortgage Loan Corporation.
If you go to your bank for a loan, you will only be offered loans carried by that particular bank. Since it’s just one institution, its loan options may be limited and may not be what you need. A mortgage broker has a variety of home loan options from various lenders. It’s the broker’s job to find the best loan for you. For example, if you want to buy a house, but cannot afford more than a five percent down payment on a 30-year mortgage, your loan broker should approach lenders with those terms.
It’s important to remember that your mortgage broker, just like your real estate agent, works for you and doesn’t get paid unless you close your loan. From a customer service standpoint, mortgage brokers tend to be more accessible to buyers than bank employees. If you have questions along the way, it’s generally easier to get the answers you’re looking for from a broker.
Unlike loan officers, mortgage brokers do not work for banks. They operate independently and must be licensed. Mortgage brokers charge a fee for their service, which is either paid by you or the lender. The fee is typically a small percentage of the loan. If you pay this fee, the dollar amount can either be added into the loan or paid up front. While there is a fee for the services of mortgage brokers, some can save you money by getting lenders to waive some of their fees, including application, appraisal, and origination fees.
There are many good reasons to hire a mortgage broker in Delray Beach. As with any professional, read reviews and check references. When you are ready to shop for your mortgage, call Ace Mortgage Loan Corporation. For more than 20 years, our experts have helped homeowners find the right loan. Contact us today at (954) 777–4774 for more information.