MISTAKES PEOPLE MAKE WHEN WORKING WITH A MORTGAGE BROKER
• Not Selecting an Experienced Broker
• One of the biggest mistakes people make when selecting a broker is that they do not pay attention to how experienced the broker is . It is true that personal recommendations are important , but you need to conduct some research to know more about the reputation of your selected broker . A broker with a good list of repeat business and happy clients is more likely to offer you quality service . You need to ensure that the broker is registered with the right organization and is an authorized credit representative .
• Not Checking Fees and Charges
• You will be making a big mistake if you will be selecting a broker without checking their fee structure . Brokers may charge you differently for their service – some brokers may not charge anything because they get their money from the lenders . In case they are not going to charge you , it is still important to know what commission they are going to get from the lenders . If they are going to charge a flat dollar fee , be sure to ask them exactly what it is going to be .