Why a Mid-Sized Mortgage Broker May be a Better Fit for You Roger Odoardi If you’re a first-time homebuyer looking for financing, you have two choices. You can either work with a loan officer who works for a direct lender like one single direct lender like a large bank, or you can work with a mortgage broker who is capable of working with many different lenders and therefore may have many different things to offer. The difference between the two is important – especially if you’re a first-time homebuyer that is unfamiliar with the many elements that go into purchasing a home. Either way, selecting someone to assist you in the home buying process can be quite the feat. Similar to choosing which realtor you plan on using, the process of picking a broker or a lender can be easily as time consuming and just as nerve wracking. But don’t fret —there’s no shortage of mortgage brokers or lenders across the country, let alone here in New Hampshire. Perhaps the biggest challenge can be selecting the one that suits you — one that is responsive to your needs and makes you feel comfortable throughout the home buying process. So, before you go signing on with any old broker or bank you found on Google, ask yourself this very important question: Which is better: Feeling like you’re being listened to and that all of your needs are being met, or feeling like you’re just another name in a Rolodex? By now you may have realized where we’re going with this — going with a big lender may not necessarily be better when it comes to shopping around for a Massachusetts mortgage, New Hampshire mortgage or any New England mortgage. Still not convinced? Here are a few reasons why going with a small to mid-sized mortgage broker may be best for you: Personalized Service At a larger lender, the chances of having the undivided attention of your loan officer are slim to none. While major lenders may have customer service professionals in house who claim to provide excellent service, a smaller to mid-size mortgage broker will without a doubt provide that personal touch you’re looking for in the forms of familiarity and reliability. If you don’t like waiting on hold or feeling ignored, a small to mid-sized mortgage may be best for you. Quick Results These days, in a competitive purchase environment, the ability to close a loan quickly can be a huge advantage. Where a loan officer at a large lender may experience difficult getting their loan processed and closed in a timely fashion, a broker at a small to mid-sized mortgage company should be able to focus all the energy it takes to get YOUR loan processed and closed. Connections Another advantage to using a broker is they typically are able to leverage their connections within their catchment area — meaning they can use their relationships with other banks and lenders to try and find you the best mortgage terms out there. Essentially, this means a small to mid-sized mortgage broker may know 20 lenders he can reach out to, which means 20 different relationships with 20 different underwriters. Having a mortgage broker with good connections can mean major things for you while in the search for the right loan with the most competitive of rates. Blue Water Mortgage is proud of its reputation as one of the most professional mid-sized mortgage broker in New Hampshire, let alone New England. Our team of loan brokers take very seriously the role they play in helping a client find the best home loans with the best rates possible. Contact us today! Roger Odoardi Roger is an owner and licensed Loan Officer at the Blue Water Mortgage office in Hampton, NH. Roger graduated from the University of New Hampshire Whittemore School of Business and has been in the mortgage industry for over 15 years. Roger has originated over 1500 residential loans and is licensed in New Hampshire, Massachusetts, Maine, Connecticut and Florida.