How to Choose a Mortgage Broker

Are you in the market for a new home? Maybe you’re looking to refinance your current home. No matter what has you checking into a mortgage broker, you may be wondering how to go about selecting one. GVC Mortgage of Carmel has some tips for finding a mortgage broker you can trust.

1. Understand what a mortgage broker does.

Before you decide whether you need a mortgage broker, you should probably know what he or she does. This quote from a NY Times article sums it up pretty well, saying that “A mortgage broker is basically a middleman. Brokers work with a variety of lenders to find loans for clients, but do not lend out money directly.”

2. Gather references.

Ask friends, family members, Facebook groups, and other social circles about quality mortgage brokers or trustworthy mortgage companies in your area. You want a mortgage broker with a good reputation for customer service to get you a mortgage to fit your needs.

3. Check out the mortgage broker’s credentials.

Go to the broker’s website and do some poking around. Look for an “About Us” page. See what you can find about their years of experience, staff member training and certifications, as well as professional or trade organizations to which they belong. Be sure to also check out any customer reviews about the mortgage broker.

4. Get quotes in writing.

If you’re comparing loan options from multiple brokers or lenders, be sure to get all options in writing. This way, you have something to compare, and you’re protecting yourself against loans “too good to be true.” We recommend gathering loan options in writing from two to three sources.

5. Pay attention to customer service.

How you’re treated speaks loudly about whether the mortgage broker is in business for himself alone or to offer services to customers like yourself. You want a mortgage broker who cares about people. He or she should respond within a reasonable timeframe, communicate well, and exemplify professionalism with every interaction.

If you’re an Indianapolis or Carmel resident in the market for a home loan, consider GVC Mortgage in your search for the right mortgage broker. Our friendly and knowledgeable staff can help answer your questions and find a loan option that’s best for you. You can call GVC Mortgage at 317-564-4906.