Working with
the right mortgage broker can spell the difference between thousands
of dollars in savings and lost opportunities. Hence, if you are
looking to purchase a new Denver home, one of the first things you
will need to do is find the right mortgage broker.
To do this, it
would be good to get referrals from people who might have previous
experiences with mortgage brokers. You may also inquire with a
Realtor, especially when you're working with one for your home
purchase. Your local or state Realtor board may also have a listing
of mortgage brokers in your area. In the absence of these sources,
you can try searching on the Internet as well as reliable consumer
groups like the Better Business Bureau.
Once you have
identified potential brokers, it would be good to meet with each of
them individually before committing your business to anyone. You will
need to find out how they expect to be compensated for their
services. Some brokers charge a flat fee, and some require that you
pay an extra 1% on your mortgage borrowing, which shall then be paid
to the broker. The broker's fee and the manner of payment for the fee
can potentially save you some money.
Additionally,
your meetings with the brokers will give an idea on who you will feel
most comfortable with, and who you believe will give you the kind of
service you are looking for.
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