What Is a Broker?

A mortgage broker is an individual or firm that processes loans for multiple mortgage lenders. More than half of all home loans are originated through mortgage brokers, in San Diego and elsewhere in the United States. The major difference between a mortgage broker and a mortgage banker is that the mortgage banker lends the bank’s own money. The mortgage broker merely plays “matchmaker” between the borrower and lender, and also handles much of the paperwork.

Finding a San Diego Mortgage Broker

There are many ways you could go about locating a San Diego mortgage broker. Referrals are an excellent way to find a broker, which is why many people choose their mortgage broker based on the positive experience of a friend or colleague.

You can also visit the National Association of Mortgage Brokers (NAMB) website for tips and resources on finding a San Diego mortgage broker. They have a special section of their website where you can search for mortgage brokers by geographical area.

Related information – mortgage SEO optimization

After all, unless you’ve won the lottery or inherited a fortune, paying out-of-pocket for San Diego real estate just isn’t realistic. So buying a home and shopping for a mortgage usually go hand in hand.

But did you know you can shop for a mortgage online, apply for a mortgage online, and even be approved over the Internet? It’s true. In fact, these days some companies specialize in making mortgage loans online. The more popular names include E-Loan, Quicken Loans and Ditech. You’ve probably heard of at least one of these through television, radio or Internet advertising.

To obtain an online mortgage loan safely and successfully, you first have to educate yourself about the process. Once again, the Home Buying Institute delivers in this department: Shopping for a Mortgage Online

Also see: Refinancing a Mortgage Loan Online