Homebuyers can benefit from using a Tampa mortgage broker when it comes to financing a home purchase, just as homeowners can benefit from using a local mortgage broker to refinance an existing mortgage.
While there are online licensed lenders who can process mortgages throughout the state of Florida, they may not have a local office or personally know the Realtors and title companies working to help you purchase or finance a home. Online licensed lenders may not know anything about your city and may not know anything about you other than what is on their computer screen.
For many, it’s helpful to personally meet with a mortgage lender and discuss mortgages, one of the most significant investments anyone will make in their lifetime.
Video Transcript is Below
Tampa Mortgage Broker
If you’re looking for a new home or considering refinancing your existing mortgage, you may want to speak with a Tampa mortgage broker. A mortgage broker can help you to get pre-qualified before you begin to look for homes so that you’re in the best position to make an offer when you find the home you love. They might also help you assess your current mortgage and determine whether it makes financial sense to refinance.
So how should you go about finding a Tampa mortgage broker? Well, one of the first things you can do is search online. Of course, this is going to reveal many companies that are not based in Tampa and are national companies and have a license to do business in Tampa. However, if you prefer to meet with somebody and sit down with them, then those may not be the best options for you.
While most mortgage brokers have the technology to do mortgage loans without meeting with you in person, if you prefer to meet in person, you might prefer to find a company based in Tampa.
Realtors Can Help
You might also discuss this with your Realtor. If you’re working with a Realtor to purchase your new home, they probably have mortgage brokers that they work with that they can refer you to, that has been a good experience.
Mortgage Brokers Work with a Variety of Lenders
Many people will often start by going to their banks. While the bank might just have the right product for you, remember that they are limited to their own products and underwriting guidelines. Sometimes if you have a unique situation, you may benefit more by going to a mortgage broker, as they work with various lenders that might be able to deal with unique situations.
Testimonials & Better Business Bureau Reports
You should also read testimonials and reviews online, and Better Business Bureau reports.
Speak with a Variety of Lenders
Regardless of how you conduct your search, speaking with a few different lenders is a good idea. You will probably find that most banks and mortgage brokers have similar products and rates. So how do you decide which is the best to work for you?
Work with Someone Who Can Get the Job Done
Most importantly, you want to work with somebody who can do the job. Giving rates and fee quotes is easy, but understanding the complexities of the mortgage process and having the experience to identify potential issues upfront are the keys to making the mortgage process go smoothly. You also want somebody with the patience and ability to sit down with you and explain the mortgage process and the difference between the various programs available. They should also tell you how they will communicate with you throughout the process and the timelines. You need to ensure you can close the loan in the time allotted in your purchase contract.
Written Estimate & Compare Rates
You should ask for a written estimate of these end rates but be careful again because remember that rates often change even sometimes throughout the day. So if you’re going to compare lenders based on rates and fees, you need to know that they obtained that about the same time of day. Most important thing is that you find somebody that you’re comfortable working with and that you trust.
We specialize in conventional home mortgages, FHA, VA, and USDA mortgage options, refinance loans, and reverse mortgages. We’ve worked extensively with cash-out refinancing, and help clients to lower their monthly mortgage payments.