Copyright 2004, Craig Romero

There’s a different kind of mortgage broker on the block and
they’re giving conventional mortgage brokers a run for their
money.

With today’s current economy, consumers have to be as budget
conscious as ever, and it’s showing in every consumer
decision they make - including shopping for a mortgage.

Gone are the days where the consumer waits with baited breath
as to whether or not the corner mortgage broker can find
financing for the home they want to buy.

Say hello to today’s new mortgage seeker; the one who has
lenders competing for their business, makes educated
lending choices and is making upfront mortgage brokers more
popular than ever.

So what is an upfront mortgage broker? The main difference
between an upfront mortgage broker and a conventional
mortgage broker is that an upfront mortgage broker discloses
their fees to the borrower up front and in writing.

The borrower will pay the broker a fee in addition to paying
the wholesale loan price. With conventional mortgage brokers,
borrowers don’t know the true cost of the loan until after
the application has been submitted.

The conventional lenders add a markup to the wholesale rate of
the mortgage to make their profit. While on the surface it may
seem like the prices quoted by upfront mortgage brokers compared
to the quotes received by conventional lenders would not be the
wise choice, don’t be fooled.

The quotes you get from an upfront mortgage broker will be an
accurate reflection of what you’re really going to pay. Just
because a conventional mortgage broker promises you the moon,
does not mean that he can actually deliver it.

There are other reasons that have conscious consumers choosing
upfront mortgage brokers over the traditional conventional
brokers.

While conventional mortgage brokers don’t always have the best
interests of their customers in mind, upfront mortgage brokers
gain nothing by providing their borrowers with anything other
than the mortgage that best suits their needs.

There are also times when mortgage brokers are given rebates
by third parties. While a conventional broker may keep this
rebate as a part of their profit, an upfront mortgage broker
will always pass this rebate on to the borrower.

With consumers appreciating honesty and no-nonsense approaches
when dealing with their lending needs, upfront broker methods
may just change the face of mortgage lending forever.

Discover how to quickly build a minimum of $40,000 worth of home equity and pay your mortgage off in 10 years or less without making biweekly mortgage payments. Visit: http://www.wisemortgageinfo.com Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.

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