If you’re in the market for a new home in Florida, your real estate agent is the first person you will connect with to look for potential homes. But most real estate agents are not equipped to advise a home buyer about their ability to afford a home. This is when an independent mortgage broker can be a key partner in a home purchase transaction.
Mortgage brokers and real estate agents work on the same team. They are both looking to make a viable closing happen for their mutual client. Consequently, real estate agents often form working relationships with mortgage brokers.
What an Experienced Real Estate Agent Knows
Over the years, an experienced real estate agent will have worked with many different mortgage professionals and knows who works best with their clients. The added advantage of working with an independent Florida mortgage broker is that they work with many different types of lenders. A broker will prequalify the client and discuss different mortgage options to find the right product for their financial profile. This further ensures that the client will get the needed mortgage funding for their real estate purchase.
A Working Partnership
Because mortgage brokers offer more loan options than recommending one bank or lender, real estate agents often recommend a Florida mortgage broker to their clients. With the ability to shop for the best loan product for the buyer, brokers aren’t tied to a lender.
This kind of symbiotic business relationship further enables the buyer to go into a purchase understanding all the financial obligations. Sometimes, getting a mortgage for a hard to place borrower can be a make or break deal for the home purchase. Agents realize that mortgage brokers have many more financing options, even for some hard to place borrowers.
Personalized Service
A seller will always appreciate a buyer who not only is prequalified for a mortgage but also has the expertise and input of a qualified mortgage professional who can work well with their own listing agent to keep communication open and to expedite the closing.
Buyers, sellers and their respective agents want a smooth and stress-free process. A mortgage broker tends to be more accessible and client-centric than working with a large institution. Many lenders are only available during regular business hours. Because mortgage brokers are independent, they are typically more flexible, allowing for better customer service. Florida mortgage brokers will often go above and beyond to make a closing happen considering everyone’s convenience and not just standard office hours.
A Buyer’s Advocate
Working together as a team, your real estate agent and your mortgage broker are the best advocates for getting your home closed. Many more borrowers are choosing to work with mortgage brokers today for that client-centric service and ability to shop for the best mortgage product for their needs. If you are looking for mortgage financing in Florida, contact the professionals at Florida State Mortgage Group at (954) 359-3000. We serve Fort Lauderdale, Broward County, Miami, Palm Beach, Orlando and the entire state of Florida.
