LAGUNA HILLS, CA / ACCESSWIRE / March 22, 2022 / For most people who haven't purchased a home, the homebuying process is something of a mystery. The housing market itself is constantly fluctuating and often unpredictable. It also moves very quickly, especially right now, when demand is at a record high and inventory is low.
A quick-moving market means limited time for buyers to figure out where to get a mortgage and decide what kinds of loans are right for them- especially when many homes are selling for above-asking price with buyers paying in cash. And for someone who's not very knowledgeable about the ins and outs of the market, shopping for a mortgage might be even more complicated than finding a house. There are so many options out there, and just as many rules and stipulations for all of them.
For people who don't meet the criteria for certain loans, buying a house might feel like an impossible dream. Many lenders refuse to work with people who are self-employed, since proof of income is an important factor in whether or not a loan will be granted. If your credit score is low, lenders might also refuse to work with you.
Not meeting the criteria for certain loans doesn't mean that purchasing a home can never happen, however: you just have to get a little creative and figure out which loan will work for you. This is where mortgage brokers like Brian Jahanbin come in.
A mortgage broker, for those unfamiliar, is not a lender themselves- but they have connections with lenders, and can use these connections to figure out a loan that will work the best for you and your situation, specifically.
For example: a Laguna Hills, California-based mortgage brokerage called Maxim Lending. Like many brokers, working with Maxim Lending will allow prospective homebuyers to consider the widest possible array of loans, especially ones that they wouldn't be able to find while shopping on their own. This is made possible through the industry connections that an established brokerage will have made- especially after two decades of experience, like those accumulated by Brian Jahanbin, President of Maxim Lending.
When searching for a lender on your own, you'll most likely be inundated with options- there will be many, many companies that want to work with you for financial gain. Some of them will offer legitimate agreements with reasonable interest rates, and some will be less-than-honest with you. "One major benefit to working with a broker is that we can ‘vet' loans for you and figure out which ones are legitimate and which ones are designed to take advantage of buyers," explains Brian Jahanbin. "No matter what your requirements are, we can find a loan that will work for you. If you need a low down payment, or if your credit score is not so great, there's still something out there for you."
The one-on-one personal attention that a broker can offer is something that you might have a hard time finding when working with a bank or other loan officer. Sometimes, the search for a loan through another institution can feel cold, impersonal, and confusing. Working with a mortgage broker might be more reassuring to someone who's less familiar with the process of purchasing a home or the language used in the terms of most mortgage loans.
"As a broker, in order to stay afloat in the fluctuating housing market of the past several years, you have to offer something special that the banks and direct loan officers really can't. We focus on giving one hundred percent to our clients, and proving ourselves by making that extra effort," says Brian Jahanbin. "Typically, the process of getting a mortgage loan involves a lot of paperwork. Mortgage brokers are so familiar with that paperwork that it's very easy for us to take care of it for you."
In an ever-changing economy and housing market, the process of obtaining a loan can seem overwhelmingly complicated. With an experienced mortgage broker like Brian Jahanbin on your side, vetting your loan options and doing the paperwork, the process will feel just a little less stressful- so you can focus on finding your new home.
To learn more, visit maximlending.net, call 888-345-9333, or send an email to Brian Jahanbin: [email protected].
SOURCE: Maxim Lending