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Upfront Mortgage Broker Pros and Cons


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TERMINOLOGY

Using an upfront mortgage broker to shop for loans can be a valuable tool for potential borrowers. With an upfront mortgage broker, you can get the information you need without all the headache that comes from dealing with a regular broker. While upfront mortgage brokers can be beneficial, they are not without their drawbacks. Here are a few pros and cons associated with upfront mortgage brokers.

Pros

Anonymity: Dealing with an upfront mortgage broker allows you to stay anonymous for as long as you want. You will give them general information about your age, income, and credit history. However, you will not have to give them anything that can identify you. You will be able to get the information you want, without being solicited by their sales people. This aspect is very beneficial to those that want to remain nameless.

Fast Information: With an upfront mortgage broker, you will be able to access the information that you need within a very short period of time. Most of the time, you will have access to the prices immediately. You fill in the pertinent information on an online application. They will then take you to an estimate of everything that you need immediately. You can even print off the estimate and keep it on file