Home Service Professionals

Mortgage Broker

Services, costs and hiring best practices - proven tips for getting great Mortgage Service

January 2014

When hiring and working with a Mortgage Broker, every homeowner needs to know: What services does a Mortgage Broker commonly provide? What is the best way to find good prospects? What should I look for when I interview the Mortgage Broker? And most importantly, how do I make sure that the Mortgage Service is done right?

Use the following information to understand your options, make good decisions and get quality work at a fair price.

Mortgage Broker - FAQ

How do I avoid the scams and get good Mortgage Service at a fair price?Compile a list of support services and service outcomes (see the following section) that you require. Interview at least 2 qualified Mortgage Brokers for the work. Sign a written contract that protects your options and interests.
What should I expect to pay for Mortgage Service?Most Mortgage Service is performed on a commission basis. The commission fees are commonly calculated as a percentage of the total transaction amount and are due when the service is completed.
Do I need to use a licensed Mortgage Broker for my job? If so - how do I verify license status?A professional Mortgage Broker must be licensed to provide most Mortgage Services. To check a Mortgage Broker's license status, search the telephone directory or online for your state's professional license board or department. Contact the licensing authority to verify license standing and history for the business and individual.
Should I use an insured Mortgage Broker for my project?Insurance is usually not required for or needed for Mortgage Service.
Does my Mortgage Broker need to be bonded?A bond is generally not required for Mortgage Service.

Mortgage Broker - Services

A Mortgage Broker can handle a number of jobs, activities and problems. The list below summarizes common Mortgage Services. Follow the appropriate links below to learn more about cost, options and quality requirements:

Mortgage Broker - Finding and Hiring

Not every Mortgage Broker has the same ability. Experience, skills, and sense of acceptable quality vary considerable. To get the results that you expect, it is essential that you put appropriate effort behind finding a Mortgage Broker matched to the specific requirements of your job - not simply someone that puts you at ease or wins your confidence. Before starting, make sure that you completely understand the work you want the Mortgage Broker to perform and the job quality you expect. Then, begin the selection process outlined below:

Mortgage Broker - Important Agreement / Contract Terms

A written agreement greatly improves your odds of success when working with a Mortgage Broker. Never start work until you have a complete agreement signed by your Mortgage Broker. For small jobs use a written work order. For larger projects, use a detailed contract. Never feel pressured to use the Mortgage Broker's standard contract. Make sure the following points are included in the agreement:

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