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There are many great Jacksonville mortgage brokers and Jacksonville mortgage lenders. However, as in almost any industry, there are also certain companies and individuals that you (and your money) are better off steering clear of.
So how do you even begin to separate the good Florida brokers from the not so good Florida brokers? Is there some type of standard litmus test to weed out the not so good from the good? Sadly, there is not. Aside from checking to make sure that the individual or company is a licensed mortgage broker; there is no hard and fast credential that should immediately earn your trust.
However, there are a few questions that you can ask that will give you some security in knowing that you are working with an excellent Florida mortgage broker. So give any potential Jacksonville mortgage broker this quick quiz:
How many lenders do you work with? The answer you are looking for must be in the double digits. An answer of 3 or 4 is simply not good enough. With the variety of loan programs available in Jacksonville and across the whole state of Florida the market has become very “nichified” – meaning that rarely will one particular lender be competitive in all of the different niches. Utilize a broker that can help you compare offers from multiple lenders.
What are the costs involved? You should expect a clear and concise answer. Too much hemming and hawing from the banker or broker and you should make a quick beeline for the exit. You will of course be better off in the long run working with a Jacksonville lender that is upfront with you in detailing all of the costs involved.
What do you recommend? The answer you are looking for here is any type of answer that shows that the broker or advisor is trying to truly understand your specific needs and goals. A bad or even mediocre broker will try and “sell you” on the new hot product or loan program – detailing benefit after benefit while a superior broker will learn your situation first and then make recommendations and suggestions.
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