About the real estate broker
By definition, a mortgage broker is a financial agent who intervenes between the borrower and the financial institution. He generally works as a freelance journalist. Its goal is to facilitate the borrowing process for the individual. So he is the one who takes all the necessary steps.
In terms of wages, this broker receives a commission from the financial institution where the loan is taken. This is equivalent to 1% of the amount Ready granted. However, some professionals ask for a fee. The amount can be up to 2000 euros.
In the event that you turn to this financial intermediary, it helps you to put together your file. Moreover, the latter must be clear and powerful to persuade advisors.
The first interview with this professional consists of explaining your project. This can last for two hours or less. Next, you will be asked to gather various documents to prepare your file.
You need an identification document, proof of address (updated), the latest tax notices, and payment receipts. Complete your file with the sales agreement and the latest account (bank account) statements.
Finally, the broker will discuss with you to find out your real needs (monthly payments, loan term, etc.). After going through all these steps, the professional will defend your case before the managers of different banks.
Why use the broker?
When you borrow, a real estate broker brings you many advantages. Above all, he masters all the terminology related to his sector of activity. Thus he will be able to simplify the technical terms and rather difficult practices of bankers. It also gives you options to understand the different aspects of your loan.
In other words, it provides you with customized support at every stage of your project. Also, as a broker, he will be able to reassure you just like a banking institution. He is also a good negotiator who will guarantee you the best price.
At the same time, he negotiates the best financing plan terms for you. This requires, on the part of the broker, advanced concepts in sectors such as banking or real estate.
Also, with a real estate broker, you can benefit from saving time and energy in your procedures. Often times, these are complicated and lengthy. It is usually not easy to follow each step of the process when time is short.
After the sales agreement, the budget is actually released in less than 60 days. This creates pressure on the borrower. The broker relieves you of this limitation.
In addition, this expert searches for the best offers for you. This consists of soliciting financial institutions, and then conducting a price comparison. The goal is to create competition.
In addition, you can make significant savings thanks to the rates negotiated by your mortgage broker. His solid knowledge of the banking world actually allows him to negotiate very attractive rates. Provided, however, that the profile of the client in question reassures the banker.
How do you choose a good mortgage broker?
There are more and more brokers today. Making the right decision is not always easy. How can you be sure that the chosen one will accompany you to the end? How do you find the right professional at a lower cost? Several selection criteria must be considered to find the perfect broker.
So, start by deciding the type of broker. there are 3Currently, namely the networks of brokers such as Artémis Courtage, brokers and online freelancers. To make the right decision, consider the follow-up you are looking for. For customized support, it is better to turn to an agency broker.
On the other hand, if you are a fan of a digital solution, choose the online broker. Moreover, with this solution, you can take advantage of instant simulation, at any time of the day (day or night). Pay attention, however, to Scan documents carefully beforehand. This makes it easy to access your file.
Another point to consider, choose your broker according to the extent of their network (partner banks). Thus the broker will be able to get the best offers, because they are facing competitors with each other. In addition, thanks to his network of partners, the intermediary can influence the banks on the terms related to the granting of the loan.
Finally, when you order a real estate broker, make sure they are registered with the ORIAS Individual Registry of Insurance, Banking, and Finance Brokers. Also, make sure it’s a legitimate working professional.