Closing on time starts with picking the right mortgage lender

Mortgage & Real Estate

A quick, easy home-buying experience is a top priority for
real estate agents who want to delight their clients and receive referral
business. To that end, agents have designed their businesses to deliver
whatever their clients need, whenever they need it. But when it comes to the
mortgage part of the equation, agents have little control over the timeline and
often feel the fallout from a slow, tedious process.

Fortunately, there is a remedy. To reduce time to close,
real estate professionals are turning to independent mortgage brokers in record
numbers and seeing results that make borrowers happy and ready to refer.

Over the last two years, the average time to close a home purchase
loan has ranged between 40 days and 49, clocking in at 46 days in September
2019. Independent mortgage brokers, however, get to work with wholesale
mortgage lenders that compete for faster closings – and consistently close in
15 days or less. That’s right, 15 days or less. And when every day that passes
feels like forever to a borrower, that is a huge deal.

In fact, no matter what kind of homebuyer you are trying to
help, mortgage brokers are primed to be agile. Instead of offering a set number
of limited loan products like a loan officer at a bank or online retail lender,
a mortgage broker can find the right fit for your buyer in loan size, down
payment, credit score and more. Instead of wasting time shopping different
lenders to find the best retail rate themselves, buyers can benefit from a
broker’s exclusive access to lower wholesale rates.

In addition, independent mortgage brokers are entrepreneurs
who rely on providing great customer service to grow their business. Unlike
loan officers at large financial institutions or the people who answer the
phone at a faceless call center, mortgage brokers are embedded in their local
community and count on third-party reviews to attract borrowers and real estate
partners.

Mortgage brokers make great partners for real estate
professionals because they are aligned with their goal of building
relationships with consumers for the long term. Both agents and mortgage brokers
are experts at the local level, and both get compensated on closed
transactions. Like real estate agents, mortgage brokers are on-call for clients
whether it’s Saturday morning or Wednesday night. And if problems come up
during the loan process, agents and mortgage brokers can quickly communicate
and solve any issues in a timely manner.

For agents focused on time-to-close and all other aspects of
great customer service, choosing an independent mortgage broker is a smart
option.

Looking to
find a local mortgage broker near you? Visit FindAMortgageBroker.com to learn more about the advantages of
working with a mortgage broker and how you can partner with one today.
The post Closing on time starts with picking the right mortgage lender appeared first on HousingWire.