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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