Academy
Introduction
Have you researched for mortgage conditions such as interest rates online on different platforms and wondered how it can be, that with the same inforamtion given you get different offers or even banks displayed?
In today’s world, everyone is used to comparing products and services online to find the best options. However, when it comes to mortgage financing, many people struggle to understand the differences between various offers and what exactly they are comparing. As a mortgage broker, I’ve noticed that a lot of clients feel overwhelmed by the complexity of the process. That’s why I’ve decided to provide this detailed guide on my website—so you can better understand the mortgage process, the factors that influence your options, and how to make informed decisions. My goal is to empower you with the knowledge you need to navigate the world of home financing with confidence.
1. Mortgage Brokerage
To understand what is happening in the background when you type your information on various websites expecting different outcomes, let us first have a look on the mortgage broker business in general.
- mortgage brokers get commissions from banks for submitting them a fully prepared application and an advised customer with no questions left that is ready to sign the banks contract
- there are different ways of submitting applications to banks and mortgage brokers can have access to multiple ways. Big sales companies usually use only one channel, because the exclusivity gets them better deals for their commissions