Why Use a Mortgage Broker?
When buying a home or refinancing, consumers basically have 2 ways to go in selecting how to
get their mortgage loan. Making the right choice will provide both a more pleasant experience and
the best financing. Let's look at these 2 choices:
Direct Lender
One of the options is to work directly with a single lender. A lender is the entity that actually funds
your loan. A single lender may only offer a limited number of loan programs. Also, since lenders
rates change from day to day, a single lender may have the best rates one day, but may not have
the best rates on another day. So locking in the best rate on the right day with a single lender may
be a game of hit or miss. Lastly, some of the direct lenders are centralized, meaning that they
either do not have local Loan Officers familiar with your local real estate market, or for cost-cutting
purposes they process all of their applications at a central facility somewhere across the country,
which can be slower than having your application processed locally.
Mortgage Broker
The other option is to work with a local Mortgage Broker. A local Mortgage Broker like AmeriStar
represents many different lenders and therefore has access to numerous loan programs. On any
given day AmeriStar may have access to hundreds of lenders offering competitive rates. Most of us
have busy schedules and would find it nearly impossible to contact and track the rates of hundreds
of separate lenders, trying to find the lowest rate. By contrast, those same lenders contact us here
at AmeriStar every morning with their latest rates and programs. Working with AmeriStar gives you
a great advantage by having someone who works for you and has easy access to the best rates
each day, from many lenders.
Plus what's more, AmeriStar can find lenders that have loan programs more suited to your
particular needs. This is because different lenders have different lending policies: Some are more
lenient; some are tougher; some lenders will offer certain rate discounts for certain borrower/loan
scenarios. There are many features offered, and AmeriStar knows them all and can help guide you
in choosing the loan programs that are best for you.
And AmeriStar is part of your community. Your application is taken and processed locally, not lost
among thousands of other applications at some giant processing center halfway across the
country.
Lastly, AmeriStar is licensed and has its activity supervised directly by the state of Maryland. So
you can feel even more confident that you will get the best service possible.
AmeriStar is your personal home financing guide. Take advantage of our expertise and a gateway
to multiple lenders. You'll be glad you did.
back to FAQ
When buying a home or refinancing, consumers basically have 2 ways to go in selecting how to
get their mortgage loan. Making the right choice will provide both a more pleasant experience and
the best financing. Let's look at these 2 choices:
Direct Lender
One of the options is to work directly with a single lender. A lender is the entity that actually funds
your loan. A single lender may only offer a limited number of loan programs. Also, since lenders
rates change from day to day, a single lender may have the best rates one day, but may not have
the best rates on another day. So locking in the best rate on the right day with a single lender may
be a game of hit or miss. Lastly, some of the direct lenders are centralized, meaning that they
either do not have local Loan Officers familiar with your local real estate market, or for cost-cutting
purposes they process all of their applications at a central facility somewhere across the country,
which can be slower than having your application processed locally.
Mortgage Broker
The other option is to work with a local Mortgage Broker. A local Mortgage Broker like AmeriStar
represents many different lenders and therefore has access to numerous loan programs. On any
given day AmeriStar may have access to hundreds of lenders offering competitive rates. Most of us
have busy schedules and would find it nearly impossible to contact and track the rates of hundreds
of separate lenders, trying to find the lowest rate. By contrast, those same lenders contact us here
at AmeriStar every morning with their latest rates and programs. Working with AmeriStar gives you
a great advantage by having someone who works for you and has easy access to the best rates
each day, from many lenders.
Plus what's more, AmeriStar can find lenders that have loan programs more suited to your
particular needs. This is because different lenders have different lending policies: Some are more
lenient; some are tougher; some lenders will offer certain rate discounts for certain borrower/loan
scenarios. There are many features offered, and AmeriStar knows them all and can help guide you
in choosing the loan programs that are best for you.
And AmeriStar is part of your community. Your application is taken and processed locally, not lost
among thousands of other applications at some giant processing center halfway across the
country.
Lastly, AmeriStar is licensed and has its activity supervised directly by the state of Maryland. So
you can feel even more confident that you will get the best service possible.
AmeriStar is your personal home financing guide. Take advantage of our expertise and a gateway
to multiple lenders. You'll be glad you did.
back to FAQ
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and is subject to change at any time. Use of this site for informational purposes, and does not constitute a
commitment to lend. Equal Housing Lender. © 2007AmeriStar Home Mortgage, Inc.
and is subject to change at any time. Use of this site for informational purposes, and does not constitute a
commitment to lend. Equal Housing Lender. © 2007AmeriStar Home Mortgage, Inc.
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