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By FinanceBuddy Staff Writer
So, it's finally the time to find a mortgage broker, but how do you find one? What are your option? Well the first thing one needs to understand about mortgage brokers is that the industry is highly competitive, as salaries are commission based. When choosing a broker it is best to find one that is employed or affiliated with a large national chain. This is to protect you from predatory mortgage lending, a form of mortgage fraud that can land you in some serious trouble. Another piece of advice is to choose a broker that is licensed with the National Association of Brokers, because they are certified and will not cheat you. Now, finding the actual brokers is relatively easy. To start off one would begin looking in the yellow pages, or an online directory as I'm sure most brokers will have a website and email address you can contact them with. When meeting with a broker to discuss them working for you don't commit right away. You want to shop around for something this important so that you will get the best rates and deals. When meeting with the broker be sure to look at the other details such as how many years of experience they have and if they are trustworthy. Also, remember to be prepared when meeting with a potential broker. Think of it as a interview for the broker, because they want to work for you. It is good to have a list of questions ready to ask your broker; you should ask about the current rates, the percent the broker takes in commission, how much time it will take to fund and other aspects regarding your loan. Remember, if you don't like the broker then you don't have to hire them. The broker works for you, not the other way around. Take the time to pick and interview your potential broker and find the best fit for you.