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When it comes to buying a house in Orange County, there are many factors involved in the process. If we talk from the financial perspective, a majority of buyers have to find a mortgage broker who can assist with the process of mortgaging on the basis of a buyer’s loan amount.

It all starts with knowing the difference between a mortgage lender and a mortgage broker. A mortgage lender is an institution that that provides the loan to help you finalize your house deal. A mortgage broker, on the other hand, is a person who connects the buyer with the right mortgage lender. A broker is a connecting link, the intermediary or, simply, the mediator. However, they are not loan officers; although mortgage broker may work in a loan office.

How to Choose a Mortgage Broker

Do I Really Need a Mortgage Broker?

Well, you don’t need a mortgage broker, necessarily. However, if you opt for a mortgage broker, things start falling into place for you pretty quickly and easily, while also saving you a good amount of money. Choosing to go for a mortgage broker is especially beneficial for first-time buyers, buyers who have questionable credit or both. A mortgage broker with an ample number of lenders in his network can help you find a lender that can offer you a mortgage with a good interest rate.

Finding the right mortgage broker will require you to do plenty of market research. And, you may think, “If I am going to spend so much time finding a mortgage broker, I would rather file for the mortgage myself.” That’s when you will realize finding a mortgage lender that suits your compensation is an equally daunting task, if not more so, and we are being lenient here. Normally, finding the right mortgage lender is way more difficult than finding a mortgage broker.

Once you’ve successfully found a mortgage broker, searching for the right lender becomes his or her assignment, and they will make sure you find the best one.

So when it comes to finding the right mortgage broker, there are five basic steps that you need to keep in mind. When you begin your search for finding the right mortgage broker with references to these points, things start falling into place pretty quickly. Read along…


5 Simple Steps on How to Choose a Mortgage Broker

Step 1: What Kind of Buyer Are You?

As we mentioned before, people who are buying a house for the first time, or ones with bad credit, won’t be able to get approval from all lenders. Bad credit scores and mortgages generally don’t sail in the same boat. To make things even more difficult for a person with a bad credit score, some wicked lenders scourge the mortgage world to take advantage.

As a matter of fact, it was this predatory lending tactic that turned out to be one of the major reasons behind the 2007-2008 mortgage bubble burst. Many national and state laws have been passed since then. Even then, it becomes really important for a new buyer to scrutinize each lender cautiously, which can become really difficult. This makes a mortgage broker a great choice. Their experience comes out to be really handy for new buyers and buyers with bad credit.

Step 2: Talk to Family and Friends

No matter how much the internet and traditional marketing methods may evolve, word of mouth still happens to be among the strongest marketing strategies. Talk to your family members, friends and colleagues to see who has bought or sold a home recently. Ask them if they know of a mortgage broker, if they someone they know has used that broker’s services, how good he/she is and other, similar questions. When you are buying a home in Orange County, CA, a little research goes a long way!

[bctt tweet=”Buying a house in Irvine Ca? Need a #mortgage? First-time buyer? bad credit? Here are 5 easy steps to find the best mortgage broker.” username=”estradaagent”]

Step 3: Online Reviews

What’s the internet version of “word of mouth” marketing? That’s right, online reviews. You can begin your search by simply typing “mortgage broker reviews,” followed by the region of your choice. Read reviews carefully. What does a good review say, what does a bad review talk about — all these factors are important to make a good decision. You can also use terms, such as “new buyer” or “bad credit,” and other such factors in your search.

A good option would be to go for video reviews posted on YouTube and Facebook. They are more believable in comparison to conventionally written reviews.

Step 4: The Interview

Never finalize a broker without shortlisting at least three of them. Once you have some really good brokers on your list, it’s time to interview them individually. Try to include the following points in your questions to get a better idea about your broker:

  • Average closing time
  • Fee amount and fee structure
  • Loan application requirements
  • List of lenders, and the lenders the broker likes the most
  • Experience of working with first-time buyers and bad credit scores

Step 5: A Little Comparison Goes a Long way

Interviewing several mortgage brokers is a crucial step toward making sure that you are working with a strong contender, the one who can easily take the jabs of the real estate lenders. But, this also happens to one of the most ignored aspects, too! Unfortunately, people don’t understand the importance of talking to various mortgage brokers and comparing them. Don’t be that person.


Integrity and transparency are among the most unnoticed aspects of a person’s character when it comes to deciding which mortgage broker to work with. If a mortgage broker is assuring you of unattainable goals or showing you impractically high expectations, observe and tread cautiously. You should go for a mortgage broker who is not only clear, but also honest about what they can and can’t do. See, the most efficient and experienced mortgage brokers realize the fact that they are not perfect for working with every client they meet. On the contrary, they are the first one to say, “I am sorry, I can’t help you with this, but I know a person who is the best fit for you.” they have a good network, and they know people. For them, it’s not about the product; it’s about ensuring that the client gets a great deal.

If you have any questions on finding a mortgage lender or broker, reach out! I’d love to help you start the process.

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