A mortgage agent is a professional unbiased independent contractor between you and the mortgage lender. They offer loan products from multiple mortgage lenders (generally over 80) and will shop & negotiate with these lenders on your behalf to find the mortgage product that offers the best combination of features, options, rates and terms to suit your unique circumstances. They take your application, put together the complete file of information including credit report, appraisal, verification of employment, listing of your assets and liabilities, etc., then present that information in the best optimum way. The information provided to a mortgage agent is always kept confidential. Read More...

Probably not . In fact, if you are a reasonably astute shopper, you will probably do better dealing with a mortgage broker. Mortgage brokers do not add any net cost to the lending process, because they perform functions that would otherwise have to be done by employees of the lender. Furthermore, because mortgage brokers deal with multiple lenders -- in a typical case, 25 to 30, sometimes more -- they can shop for the best terms available on any given day. In addition, they can find the lenders who specialize in various market niches that many other lenders avoid, such as loans to applicants with poor credit ratings, loans to borrowers who do not intend to occupy the property, loans with minimal or no down payment, and so on.

• How long will it take to process my mortgage loan application?
• What documents do I have to provide?
• What are the qualifying guidelines for the particular loan?
• What is the minimum down payment?
• Can I lock in the interest rate?
• What are closing costs?
• Is there a prepayment penalty on the loan?
• What can delay the approval of my loan?

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