ABOUT

Mortgage Bazaar is the most efficient and

simplest way to manage to buy a home.

HOW WE WORK

Mortgage Brokerage Procedures

Because a mortgage broker acts as a liaison between lenders and borrowers, the process frequently begins with a client looking to purchase a new house or refinance an existing one.

The client approaches a mortgage broker, who then approaches various lenders to learn about their requirements and pricing in order to present solutions that are appropriate for their situation.

 

The broker gathers papers such as proof of employment, proof of income, credit reports, details of the client's assets (if any), and any other relevant information needed to assess the borrower's capacity to obtain financing from the lender.

 

The mortgage broker calculates the loan size and type that is appropriate for the borrower, as well as the loan-to-value ratio. After that, the broker submits the financing application to a lender for approval, serving as a mediator between the lender and the borrower throughout the process.

 

The funds will be released once they've been approved (by the lender and in their name), and the broker will collect an origination fee from the lender for the services rendered. The payment is only received by the broker once the transaction has been finalized.

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