Should I rely on an online mortgage broker?Posted by Harsh Kumar on May 31st, 2018 Resources Link: https://maker.me/ratejab-com-bd5c6d/should-i-rely-on-an-online-mortgage-broker-7675aedec534 Buying a property in Philadelphia can be a complex, time-consuming and an incredibly expensive affair. In fact, it’s safe to say that buying a home will probably be the biggest purchase you’ll ever make.Unless you’ve got a good inheritance, won the lottery or swindled some rich widow – you’ll need a mortgage to purchase that ridiculously expensive condominium or resale HDB flat you desire. But before you walk into the nearest branch of your “preferred” bank to meet with a loan officer, here is a better alternative that can also save you time and money! There’s a better option to obtaining your mortgage aside from accepting the “trusted” recommendation of a bank officer or property agent – that option is an online mortgage broker. Here are several major advantages to obtaining your home loan through a reputable online mortgage broker:
An online Philadelphia mortgage broker offers two main benefits for its clients:
The first impression of online mortgage broker is that they must be small shops who happen to be very good at online marketing. They buy ads on rate comparison sites to get ‘preferred’ placements, and give up as much of their commission as they can afford to “buy-down” customer rates and get listed as the best deal. With such low margins they’d have to scale their operations and gather as many mortgage applications as they can manage. Hence the lack of time and resources to answer questions or deal with complicated mortgage needs. As consumers become more rate sensitive, and get more comfortable sharing personal data online, deep discount online brokers will continue to eat up their share of the mortgage business. Like it? Share it!More by this author |