Your mortgage broker is one of the determining factors in getting a great mortgage deal in Bergen County. Hence, you should know how to spot the cream of the crop among all the brokers in town.

To help you make the right choice, here are five things that best mortgage companies have in common:

1. Qualified to be a Mortgage Broker in Bergen County

The easiest way to verify a broker’s legitimacy is to check for its unique identifier through the Nationwide Multistate licensing System & Registry (NMLS) or the New Jersey State website.

Usually, a mortgage broker’s unique identifier is visible on the broker’s website. Cornerstone Capital’s NMLS ID, for instance, can be found at the base part of each of our web pages.

2. Credible with Proven Track record

The credibility factor of a mortgage broker company is somewhat subjective, and not to mention measured by a lot of things.

So, to assist you with the evaluation process, here are some places that you can visit:

Linkedin

Linkedin is like a community/database of business professionals where you can find pertinent information such as:

• Size of the mortgage broker company together with its employee’s profile.
• Physical and online location of the mortgage broker office.
• The number of years the company has been doing business.
• Expertise or the kind of loans the Bergen County Mortgage broker specializes in.

Social Media Accounts

Most mortgage broker companies have social media accounts. So, do a little stalking. Check out your Mortgage Broker on Facebook, Twitter, or Instagram and see what they have been up to and what people are saying about their services.

Word of Mouth

No one can speak for your mortgage broker, aside from their customers themselves. So, if you’re looking to apply for a mortgage in Bergen County, try asking around the vicinity.

You may also visit the Facebook pages of business associations such as Bergen Networking Exchange and the state-owned New Jersey Housing and Mortgage Finance Agency to find out more.

The Company Itself

When all else fails, or you still have questions after doing a thorough background check, contact the mortgage broker themselves. For sure, they’ll be happy to accommodate you with your questions since you are a prospective client for them.

3. Flexible with a vast network of Mortgage Loan Providers

After establishing what your mortgage broker’s professional qualifications are, the next thing you should check is their network.

Do they know a lot of people, companies, banks, and financial institutions that can make your dream home possible? What types of financing can they offer you?

The more the mortgage broker knows and the more it has to offer you, the higher chances also of getting better rates.

4. Independent and free from bias

Your next broker should also be independent of all lending companies, let alone banks. Being a mortgage broker, after all, is a commission-based job. Brokers working for any lending institution can be more prone to biased decisions more than the independent ones.

You might not also realize this, but financial and lending institutions can be very competitive when it comes to getting customers to apply for a mortgage loan with them.

An independent mortgage broker company not affiliated with any banks and lending institutions can be your access to wholesale rates and better deals in the market.

5. Honest, Transparent and cares about you

From application to underwriting and approval process, the best Bergen County Mortgage brokers should guide you every step of the way—and we mean EVERY step, including how to fill out forms, obtain legal documents, sort paper works, and answer your loan-related queries.

On top of that, mortgage brokers should also be honest and transparent at all times—disclosing relevant fees and providing useful financial advice on how you can pay the loan on time.

Now that you know the minimum requirements your brokers should possess, we bet that finding your next Bergen county mortgage broker will not be as challenging.

During the process, chances are you’ll come across Cornerstone Capital being one of the best and most reliable mortgage broker companies in Bergen County. When that happens, we will be happy to assist you to get a mortgage loan.

Contact us today so we can discuss how we can help you realize your dream home.