As a wholesale mortgage broker, you probably get asked fairly regularly what that means. People may be confused about your role and why it’s so important. Now, Caliber Home Loans, Inc. knows that you know what a wholesale mortgage broker is, but sometimes explaining your job clearly and concisely, while emphasizing the importance of your role, is not that easy. So we thought we’d help you out by providing a handy and concise explanation. Feel free to use it as your own.
Wholesale mortgage brokers are experts who review the various loan programs to find the ones that work best their borrower, depending on borrower wants, goals and situation. They discuss these selected options with the borrower to help make the right decision. Then they use their expertise during the application process to get the loan closed smoothly and quickly.
A home mortgage remains the biggest financial transaction of most people’s lives.
That’s enough to make buying a house a very big deal, but then you also have to choose a mortgage. And apply for it. Then you find out that there are many, many types of home loans and each type of loan has a wide variety of options. And each loan has unique requirements that change on a fairly regular basis. This makes buying a house sound like a major headache, but it doesn’t have to be.
These are the primary reasons why a borrower may want to work with a wholesale mortgage broker, one who will find and help the borrower apply for the specific loan that’s best for them. Borrowers don't want to settle when purchasing a home.
The right loan may give your borrower’s access to lower monthly payments, lower rates, and the particular options that benefit them. Your broker knows you, knows the benefits and requirements for each loan, and knows the application process. In short, the broker is an experiencedd mortgage professional that works for their borrowers.