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What are Upfront Mortgage Brokers?


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TERMINOLOGY

Using an upfront mortgage broker is a great way to find out information about loans without a lot of hassle. An upfront mortgage broker can keep things anonymous and still get you the information you need about a mortgage. Shopping for mortgages is tough enough, but when lenders do not disclose everything upfront, it makes things even harder. Here are a couple things that you can expect from an upfront mortgage lender.

Anonymous Application
An upfront mortgage lender will have a website that you can go to in order to receive the info you need. You will not be required to put any specific information into the form to get a quote. You will have to fill in basic information like your age, income, state of residence, and loan amount. However, you will not have to put in your name or social security number in order to get prices. This keeps you from being solicited if you do not want to be. You will just be able to get the information that you need right away without all of the hassles.

Estimates
The information that you are provided from an upfront mortgage broker can be very valuable. They will show you the interest rate that they can offer, the monthly payment, and the closing costs associated with the loan. These estimates are usually quite accurate, as well.