Real Estate Terms Glossary
What is a Mortgage Broker?
We can define a mortgage broker as a go-between or an intermediary who deals with banks and other lenders in order to arrange a home loan for borrowers. Note that the mortgage broker's main job is to compare various mortgage lenders and banks on your behalf.
Mortgage brokers in the US educate themselves on the overall financial standing of the borrower. After that, they try to connect borrowers with lenders who are a good fit and provide a reasonable interest rate for borrowers.
Examples of Mortgage Broker
- Example 1: Loan officer
Here’s Investopedia’s definition of a Mortgage Broker .
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As a resident of the Chicago Southside, Attorney Carissa Essex is a dedicated mother, wife, and attorney. Carissa graduated from the Illustrious Spelman College in Atlanta, Georgia in 2012 with a Bachelor of Arts Degree in Political Science. She then returned to Chicago to obtain her Juris Doctorate in 2016 from DePaul University College of Law. After working in Corporate America for several years as a full-time Legal Project Manager practicing law part-time, Carissa decided to devote all of her time to her legal practice and founded Essex Law in early 2024. Focusing on Family Law and Real Estate Law matters, Essex Law provides exceptional and affordable services to all throughout the Chicagoland Area.
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