There are thousands of variables that can affect the outcome of your mortgage transaction. That's why you need a mortgage broker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, the underwriters, processors, attorneys, and any other services which may affect your transaction.
A mortgage broker also:
• Discusses and explains financing program options
• Informs you, in writing, of lock-in options
• Explains all documents of the loan application
• Explains all costs associated with the loan application
• Explains the expenditure of all loan applications
• Explains the loan process, from application to closing
• Provides you with a good faith estimate of cost and fees
• Communicates with you throughout the loan process in a timely manner
• Coordinates the final closing of your transaction