Search “Why use a mortgage broker?” on the Internet, and you’ll get a wide variety of opinions and testimonials ranging from the fanatically positive to the chillingly negative.
The role of mortgage brokers in encouraging the pace of the subprime explosion that felled the housing market led even more people to question their role in the home buying process.
Even so, whether you’re a veteran or a civilian looking for a mortgage, calling numerous financial institutions, waiting to get answers and trying to sort through the financial jargon contained in those answers can be trying.
So it’d be good to have someone working in your best interest who knows the market, knows you and can do the shopping around for you, right? Maybe. You’ll have to see what works best for you.
To that end, here’s a quick rundown on some of the good and the bad of mortgage brokers: