Is it a good idea to hire a mortgage broker?

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As an entrepreneur I have the opportunity to hear about many businesses. The mortgage broker moved me.

Would I like to have a personalized advisor to help me make the best decision about an important business in my life? Clear. And, if that advice were free … I didn’t think about it anymore. The mortgage broker is a novel figure in Peru . I feel happy to venture into this business. And I do it convinced of its usefulness for homebuyers and the importance it may have for the financial market of my country. I like being part of something big.

What is the role of a mortgage broker?

What is the role of a mortgage broker?

Brokers, or brokers, are part of a very common business model throughout the world, such as insurance brokers, stock brokers or real estate brokers. These are intermediaries who advise their clients and achieve for them the best option in the market to acquire a new mortgage loan or obtain a purchase of mortgage debt . In the United States and Canada the figure of the broker is necessary if you want to conduct a real estate business. In other countries such as Mexico, it has been operating since the beginning of the century and has grown successfully.

The essential characteristic of the mortgage broker is to serve as a bridge between financial institutions that offer mortgage loans and clients. If we take into account that in Peru there are about 30 entities that offer this type of financial product, we can understand how exhausting it would be for a client to have all the market information . The broker has all that information and supports the client to choose the best options.

The advantages of hiring a mortgage broker

The advantages of hiring a mortgage broker

Banks and financial institutions have their own advisors, of course. Very good, in most cases. Everyone, of course, has the mission of offering their own products. The broker is independent. It offers all the products of the market. His criteria, it could be said, is more objective.

A similar situation occurs in construction companies and real estate sellers. They know the subject, they can give you some information, but they will not have a range of possibilities.

It is clear, then, that the broker is multi-product . You can offer many of the products on the market. Now, what exactly does a mortgage advisor do? Study the client’s situation, that is, their income, expenses, borrowing capacity, credit history and objectives in the business . Every client is a new world. It is not the same, a young man who has been saving for some years, a visionary executive who does not want to waste time to become independent, an entrepreneur who makes investments in his new business or one who prepares for his first child. Each situation deserves special analysis to determine which are the best options. Typically, the broker presents several alternatives to the client to review with him and help him make a good decision.

Having a mortgage broker is a good business.

Having a mortgage broker is a good business.

A broker is a business agitator. It seeks to benefit from a commission that the financial entity will recognize when closing a deal . For financial institutions it is a good business. They have a responsible external seller.

For the homebuyer it is also very useful:

    • Applying for a mortgage is an important decision. If done correctly, the monthly fee will be integrated into daily life. Thus, almost without realizing it, in a while, the client will be celebrating the payment of the credit.
    • The client benefits from the knowledge of the mortgage market that the broker has . Thanks to him you can get the best negotiation.
    • You can access this advice for free.
  • You don’t waste time, you don’t have to create spreadsheets to compare options or get scared thinking you didn’t consult the right bank.

Welcome new and good business in Peru.