The article concerns the following question – Can a Real Estate Agent Help You Get a Mortgage? There is more to buying a home than just finding the right property. You will also have to finance it and if you can not afford to pay cash, then you will need a mortgage. Unfortunately, there is a lot to know about mortgages and not everyone will have an easy time of it and will look for help. A real estate agent seems like a good choice to ask, because they are in the property buying and selling business, and more often than not they can help you get a mortgage.
Real estate agents almost always have a good network of contacts and among them are mortgage brokers, who are people that basically will help homebuyers find the best financing for their needs, and even help them with their home insurance arrangements. Not only can a real estate agent tell you names of such mortgage agents, but they also know who is good at what they do and can recommend only the best. This will increase your chances of actually getting a mortgage approval.
If you don’t want to go to a mortgage broker, then a real estate agent can direct you to local banks too. They know the most reputable banks in the area and can even give you contact information so that you won’t have to waste any time. Many banks also list foreclosed properties with local real estate agents and if your agent has a bank owned property that you want to buy, then can also help you work out the costs so that you have the best chances of being approved.
Basically, this article says: yes and no. A real estate agent is not a mortgage broker, but he or she can get you started, or guide you in the right direction – and in the direction of a mortgage loan with the right kind of mortgage loan factors. Keep in mind that your real estate agent will do anything to make you buy the property, so make sure to get his or her help BEFORE signing anything, just to make sure you get the RIGHT help.
Once your business is done, some real estate agents (this again shows you: you need to choose the right real estate agent!) will focus on new projects much more than trying to help you – don’t let that happen. Get all the info you need at the right time, it’ll save you money!