Real Estate

Mark Roemer Oakland Shares How to Find the Best Mortgage Broker


According to Mark Roemer Oakland, when you look for a mortgage broker, it’s important to ask the right questions. Otherwise, you can regret your decision later. Here’s how you can find the best mortgage broker for your needs:

The Details

Fees – There are several ways a mortgage broker earns money. You have to talk to different brokers to figure out if any of them have a bias towards a particular lender. This way you can avoid the brokers that earn commissions from certain lenders even if they have to set you up with a bad deal. It’s always best to avoid brokers that may earn a commission from the lenders. When you don’t pay the broker out of your pocket they act against your interests. 

On the other hand, brokers that get paid by you charge an origination fee. It’s usually around 1 percent of the loan amount. However, you need to keep an eye out here as well since the broker may steer you towards a loan with a higher amount even when you don’t need it. While you get drowned in debt, the broker gets to earn a fat commission. 

Share your financial issues with your broker – Before you start buying your home, you should look into your financial records and credit history. If you have a bad credit history, income issues, foreclosure, high debt payments, and other such issues, you should share them with your broker. 

If you’re dealing with an honest broker, he or she should set some clear expectations for you and inform you if you’ll qualify for decent terms and interest rates. Stay away from brokers if they make it sound like you won’t have any problems securing a decent mortgage rate. You should be well aware of your financial situation and would be able to judge if the broker is honest or just trying to get a commission out of you.  

Ask about lenders – When you’re choosing a mortgage broker, you’ll come across two types. There are those who work with the same set of lenders and those who cast a very wide net. Moreover, there are certain lenders who simply don’t work with brokers and instead opt to hire in-house loan officers. 

It’s best to avoid brokers who work with a select set of lenders. You can reach out to those few lenders yourself and get a mortgage rate from them within a week. Instead, you want to work with a broker who has connections with plenty of lenders so that you can rate shops and choose the best. 

Ask for testimonials – No, you don’t need to ask for free lines of praise from imaginary customers most brokers print in their brochures and advertisements. Instead, ask if you can directly talk to a few of that broker’s previous clients to know about their experiences. If the broker has a decent portfolio, he or she shouldn’t have any problems with this arrangement.    


Mark Roemer Oakland suggests that you use the above-mentioned tips and ask the right questions before you decide on a mortgage broker. You’re putting a valuable asset on the line, and you want the best person to handle it.