Unless you buy with all cash, you know you’re going to need a mortgage.
Just as you want a real estate agent who understands your needs, you want a mortgage broker who is on their game and can facilitate a smooth transaction.
Mistakes can waste time—and money. Using a broker who is familiar with your property type will make the mortgage process go smoother.
Your mortgage broker should be armed with knowledge of products, knowledge of how to navigate the co-op questionnaires, and knowledge to customize what suits each borrower. Sellers will notice if your broker is from out-of-state and it may become a stumbling block to an accepted offer!
That said, going with a big name bank doesn’t ensure smooth sailing. Trust your buyer’s agent’s advice on which brokers to use. They know a lender’s reputation, past performance, and the relationships they have.
Pedro Paredes, Licensed Real Estate Agent at The Bizzarro Agency, has some pressing info on what you need to know about obtaining a mortgage.