What is a mortgage broker?

A mortgage broker is a licensed independent contractor that offers a selection of loan programs from various lenders they have established relationships with.

Mortgage brokers can offer you a large selection of products available from different lenders. Usually banks have a limited selection of their own programs, which may or may not fit your needs.

The mortgage broker takes your application and processes your loan for submission to a lender for underwriting and approval of funding for the loan.

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