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I am afraid it is not that simple.

Finding an “honest” mortgage broker is part knowing how to interview them and part “keeping them honest” by demonstrating your knowledge. In other words, the brokers (even the good ones) are willing to over-charge, if the client shows no real knowledge of how loans are priced, locked, and closed.

With that said, if you start with knowing where to look for an ethical broker, interviewing to weed out the obvious “bad ones”, demonstrating your knowledge of today’s par rate and demand no YSP or other typical overcharges…you’ll find not only an honest broker, but also a financial pro who you can use over and over again.

There is no short-cut. And if anyone tells you they have found a “short-cut”, get ready to get taken. You must get the knowledge and then apply the knowledge during the shopping phase.

We’ve made it as easy as possible in our Mortgage Advantage system, but you must still read and apply the program.

I know any system you must apply is “harder” than filling out a form on a website or taking a referral from a friend or real estate agent. But those “lazy” methods simply don’t work. I don’t care how much you “trust” the referring person.

The sad fact is the referring person may not know any more about mortgage shopping than you and is simply referring on the basis of “personality”. Not a good criteria when it comes to your biggest financial decision. Or worse, the referring party may actually get monetary benefit from the referral. This can be the case with taking referrals from real estate agents or filling out website forms.

Sure our syste takes more time than filling out a form, but it works. If you can spend about 45 minutes to read the program and another 20 minutes implementing it, you can actually find a ethical, qualified, mortgage professional you can use time and again.

So in the long run, since you are not starting over everytime you need a loan, you’ll actually save time with our system.

Check out some of our “Testimonials” to see how others have had success with our system…you may consider getting a copy of The Mortgage Advantage to get a step-by-step system for finding your “Mortgage Angel”.

Thanks for the question!

Author: The Mortgage Insider

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