What is the primary purpose of a mortgage broker?

The primary purpose of a mortgage broker is to connect borrowers with lenders. This role involves acting as an intermediary between individuals seeking financing for real estate and financial institutions offering loan products. Mortgage brokers help borrowers navigate the mortgage process, providing access to a variety of lenders and loan options tailored to the borrower’s financial situation and needs.

By working with multiple lenders, brokers can offer competitive rates and terms, making it easier for borrowers to find a suitable mortgage solution. They also assist with paperwork and facilitate communication between the lenders and borrowers throughout the loan process. This service is valuable because it helps borrowers save time and effort while potentially securing better financing terms than they might find on their own.

Other roles, such as selling real estate properties or appraising homes, focus on different aspects of the real estate transaction and do not align with the primary function of a mortgage broker.