Expertise.com

Best Mortgage Brokers in Ofallon

2024

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  • Licensing
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Mortgage Brokers FAQs 〉

Providers

Last updated:

Website
1000 Lake Saint Louis Blvd Suite 208, Lake Saint Louis, MO 63367
  • Refinance

Why choose this provider?

1st American Mortgage provides different home loan mortgage solutions for clients in O’Fallon. Founded in 1999, the company has helped many clients achieve their homeownership goals through home purchase financing. The company’s loan options include VA, FHA, and Jumbo home loans, as well as 15-, 20-, and 30-year fixed-rate mortgages. It also offers refinancing plans to those who want to lower their interest rates and monthly payments. The rates offered by the company are through its partnerships with numerous wholesale lenders.

License Verified:

License: 408591

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 (3)

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
3893 Mid Rivers Mall Dr, Cottleville, MO 63376
  • Refinance
  • New Construction

Why choose this provider?

Integrity Mortgage of Missouri Corp. is a family-owned and family-operated company serving the O'Fallon metro. It offers conventional home loans, which are provided by either private lenders, Freddie Mac, or Fannie Mae. Government-secured programs like FHA and USDA loans are also available. The brokerage, which has been in service since 1993 and has closed loans worth more than $2 billion in total, supports teachers, nurses, firefighters, doctors, and veterans through its Local Hero Home Loan Program.

License Verified:

License: 1228440

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.
4.9
Facebook
5.0 / 5 (38)
Google
4.8 / 5 (36)

Website
801 Upland Loop, O'Fallon, MO 63368
  • New Construction

Why choose this provider?

Victory Mortgage offers a range of financial solutions to borrowers in the Ofallon metro. It offers FHA, USDA, VA, jumbo, and fixed and adjustable-rate loans. It also has programs for those seeking new homes but haven't sold their existing houses yet, and for those seeking income-producing rental properties. The company provides clients with a comprehensive home toolkit that guides them through the application process. Victory Mortgage also serves Erlanger, Columbus, Indianapolis, Atlanta, Louisville, and Dayton.

License Verified:

License: 2140969

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.
4.8
Yelp
5.0 / 5 (16)
Facebook
4.0 / 5 (5)

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.