Expertise.com
2024

Last updated:

Best Mortgage Brokers in Davenport

Our Recommended Top 3

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Davenport Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

27

Reviewed

17

Curated

3

Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
5189 Utica Ridge Rd, Davenport, IA 52807
  • Refinance
  • New Construction

Why choose this provider?

John Cornish operates under Key Mortgage Group, serving clients in Davenport who require mortgage brokers. Options include financing and refinancing plans for families on their first home or those whose existing obligations are exceedingly burdensome. The agent has been in the residential lending sector for over 10 years and has helped more than 2,300 families over his career. He also offers in-depth reviews of purchasable properties. Cornish serves on the board of the Children’s Cancer Connection.

License Verified:

License: 631532

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (288)
Facebook
4.9 / 5 (183)
Zillow
5.0 / 5 (32)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1600 4th Avenue, Rock Island, IL 61201
  • New Construction

Why choose this provider?

Gene Weis is a licensed real estate lending consultant who has been in the industry since 1984. He guides clients in Davenport in navigating home loan processes and empowering them to make wise choices through education. He takes on different approaches to borrowing, such as showing clients available homes to help them understand their financial capability. Gene Weis is the Iowa Mortgage Association-Quad City Chapter president with experience as a mortgage loan officer, a branch manager, and an executive vice president.

License Verified:

License: 631568

Nationwide Multistate Licensing System and Registry

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
1450 Boyson Rd, Ste B3, Davenport, IA 52233
  • Refinance
  • New Construction

Why choose this provider?

Universal Lending of Iowa serves people in Davenport, advising aspiring homeowners on conventional loans and other mortgage options. It also provides programs insured or guaranteed by various federal agencies, including the VA, FHA, and USDA. It assists other clients looking to refinance their mortgages and helps them consolidate debts or lower interest rates. One of the company's team members, James Whitfield Sr., has a background in B2B telemarketing and has been in the industry for more than 18 years.

License Verified:

License: 2996

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Frequently Asked Questions

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.