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Best Mortgage Brokers in Springfield

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One Legacy Brokers logo
FEATURED
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License Verified:

License: 2375165

Nationwide Multistate Licensing System and Registry

One Legacy Brokers

4560 South Campbell Avenue Suite 120, Springfield, MO 65810
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  • Reverse Mortgages
  • Purchase
  • New Construction
  • Refinance

Business Description

One Legacy Brokers is a veteran-owned and veteran-operated company serving borrowers in Springfield. It offers first-time home buyers, jumbo, VA, and DSCR loans to clients looking to refinance or purchase a home. Its local brokers work closely with clients to accommodate their individual needs and navigate them through the process of achieving their dream of homeownership. They have connections with numerous lenders to provide borrowers with lower rates and have experience negotiating terms on their behalf. Other programs offered by the company include rehab, FHA, and USDA loans.

License Verified:

License: 2375165

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)
Bradley Farris logo
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License Verified:

License: 261793

Nationwide Multistate Licensing System and Registry

Bradley Farris

2412 East Madrid Street, Springfield, MO 65804
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  • Reverse Mortgages

Business Description

Bradley Farris is a mortgage broker located in the Springfield metro. He leads Farris Mortgage, a locally owned company that customizes loan programs for clients' unique situations. Bradley guides clients in applying for conventional loans, USDA loans, FHA loans, and VA loans. He also helps clients with refinancing their properties. A previous client praised Farris for not only helping them purchase their first home but also educating them about the loan process.

License Verified:

License: 261793

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 (14)

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
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Detail
Chris Krans​ logo
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License Verified:

License: 507228

Nationwide Multistate Licensing System and Registry

Chris Krans​

3757 South Greystone Court, Springfield, MO 65804
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  • New Construction
  • Refinance

Business Description

Chris Krans​ assists homebuyers in finding residential loans that meet their needs and budget. He is well-versed in the underwriting guidelines of different loan programs, such as conventional, FHA, USDA, and VA loans. With nearly two decades of his career devoted to mortgage, finance, and banking, Krans leads the Springfield office of On Q Financial to serve local clients. The firm offers a wide selection of home loan options, specializing in jumbo loans for luxury properties.

License Verified:

License: 507228

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 (27)

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
Franklin American Mortgage Company logo
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Franklin American Mortgage Company

6100 Tower Circle Suite 600, Franklin, TN 37067
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  • Reverse Mortgages

Business Description

Franklin American Mortgage Company provides homeowners' loans to Springfield clients. It offers and guides its client to find a mortgage that best fits their budget and preferences. It also gives services to wholesale brokers and correspondent lenders, providing training and knowledge on the current trends on the market. Franklin American Mortgage Company has been running for more than 25 years. It became part of the Citizens Bank in 2018. The company is a double diamond member of the National Association of Mortgage Brokers.

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.
4.3
Google
4.3 / 5 (8)

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
Home Mortgage Group Inc. logo
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License Verified:

License: 153098

Nationwide Multistate Licensing System and Registry

Home Mortgage Group Inc.

3608 South Campbell Avenue, Springfield, MO 65807
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  • New Construction
  • Refinance

Business Description

Home Mortgage Group Inc. is a Springfield-based brokerage firm offering mortgage solutions. It caters to first-time homebuyers with various loan programs, including HARP 2.0, hybrid ARMs, FHA/VA, and graduated payment mortgages. Reverse mortgage programs are also available for senior citizens looking to liquidate some of their home's equity for supplemental income, renovations, or medical expenses. Additionally, the company offers refinancing options for clients looking for better rates on their mortgages.

License Verified:

License: 153098

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.
4.6
Google
4.0 / 5 (30)

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
Mid America Mortgage Services, Inc logo
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License Verified:

License: 1142067

Nationwide Multistate Licensing System and Registry

Mid America Mortgage Services, Inc

200 East Walnut Street, Springfield, MO 65203
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  • New Construction
  • Refinance

Business Description

Mid America Mortgage Services, Inc., provides financing options for borrowers in Springfield and the rest of the state. Its team of loan advisors assists both homebuyers who need to purchase loans and homeowners who want to refinance their mortgages. They provide multiple options, including renovation, conventional fixed, and FHA loans. Mid America Mortgage Services was founded by Ralph Gates in 1984. As an active community member, he is involved with various organizations like the Boone County Farm Bureau and American Legion.

License Verified:

License: 1142067

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
Facebook
5.0 / 5 (17)
Google
3.0 / 5 (2)

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
Mortgage Centers logo
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License Verified:

License: 1209936

Nationwide Multistate Licensing System and Registry

Mortgage Centers

732 North 22nd Street, Ozark, MO 65721
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  • Refinance

Business Description

Mortgage Centers is a company serving homeowners in Springfield and the surrounding areas. It strives to provide clients with a mortgage that fits their needs through the variety of products that they offer. These include fixed-rate and adjustable-rate mortgages, FHA, VA, and USDA/rural development loans. Jumbo and condominium loans, as well as financing for manufactured homes, are also available. Mortgage Centers can also find a loan for homeowners with credit scores as low as 500.

License Verified:

License: 1209936

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.
4.2
Google
4.0 / 5 (13)

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
PrimeLending - Springfield logo
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License Verified:

License: 564434

Nationwide Multistate Licensing System and Registry

PrimeLending - Springfield

3150 South National Avenue, Springfield, MO 65807
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  • New Construction
  • Refinance

Business Description

Based in Springfield, PrimeLending is a mortgage lender that has been in the business since 1986. The company offers a wide array of home financing options, such as fixed-rate and adjustable-rate mortgages; FHA, USDA, and VA loans; refinancing options; conventional financing; and float down options. First-time homebuyers can get pre-qualified to learn more about the details of the loans that the PrimeLending team provides. From initial consultations to final closing, the company assists borrowers throughout the complex mortgage financing process.

License Verified:

License: 564434

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
Google
4.0 / 5 (134)
Facebook
5.0 / 5 (26)

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
Signature Lending LLC logo
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License Verified:

License: 1938889

Nationwide Multistate Licensing System and Registry

Signature Lending LLC

300 East Sunshine Street, Springfield, MO 65807
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  • Refinance

Business Description

Signature Lending LLC is a mortgage broker that serves clients from Springfield. The company guides individuals in finding the right loan options for their personal needs. It offers a wide range of loan options, such as conventional, jumbo, investor, FHA, USDA, and VA. Its team of brokers is knowledgeable in handling the needs of clients who want to buy or refinance homes. The firm has a mortgage calculator that clients can readily access on the website.

License Verified:

License: 1938889

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.
4.3
Facebook
4.0 / 5 (5)
Google
5.0 / 5 (2)

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
USA Mortgage - Springfield logo
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License Verified:

License: 227262

Nationwide Multistate Licensing System and Registry

USA Mortgage - Springfield

3100 South National Avenue, Springfield, MO 65807
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  • Refinance

Business Description

US Mortgage is a full-service mortgage company with a branch operating in Springfield. The company provides a variety of mortgage options, including conventional, FHA, USDA, and VA loans. It lets clients opt for a lock-and-shop program for up to 120 days. Some of its loan programs include jumbo, bank statement, renovation, and construction loans. US Mortgage also provides professional assistance for seniors seeking reverse mortgages and presents clients with various interest rate options.

License Verified:

License: 227262

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.
4.0
Google
4.0 / 5 (218)

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.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
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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.

How do mortgage brokers get paid?

The customer or the lender pays the mortgage broker. By law, it's illegal for a mortgage broker to accept payment from both parties. Additionally, thanks to the Dodd-Frank Act, a mortgage broker cannot have hidden fees or base their commission on their customer's interest rate.

What makes mortgage brokers different from loan officers?

Loan officers are employees of a single lender. For example, if you go to a bank for a mortgage, you'll deal with their loan officer. They’re paid a set salary and receive bonuses; however, they can only offer loans from their bank.

A mortgage broker works independently or for a firm, and they’re paid by the client or lender. Mortgage brokers can approach several lenders, giving individuals many more options.

What is the difference between a commercial mortgage broker and a home loan broker?

A commercial mortgage broker deals with real estate loans for businesses. The loan for the commercial property is given to the company, not the individual. As a result, the approval process reviews the financial health of the business. In comparison, a home loan broker helps individuals gain a real estate loan for their property.

How much do mortgage brokers make?

According to Salary.com, the average salary for a mortgage broker in the U.S. ranges between $75,344 and $99,498. However, this can significantly vary depending on the state you work in, bonuses, and other factors.

How do mortgage brokers get paid?

How a mortgage broker gets paid entirely depends on who they work for. If they’re an independent contractor, all of their income comes from their clients or lenders. If the person works for a brokerage, they may be paid a combination of a base salary and bonuses from closed deals.

How much do mortgage brokers make per loan?

Mortgage brokers typically make between 1% and 2% of the total loan amount on each deal closed. The client or the lender will pay this fee. The mortgage broker does not receive their payment until the loan is approved and finalized. 

Can mortgage brokers work across state lines?

Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for its mortgage brokers. To legally close a transaction, you must be certified in the state of the transaction. Additionally, it's helpful to know the state's closing process, as this can change from state to state.

What is a surety bond for mortgage brokers?

A surety bond is a legal contract that binds three parties — the obligee, the principal, and the surety. Surety bonds are typically required to receive a license for operating as a mortgage broker. When a mortgage broker gets a surety bond, it's a legal guarantee they'll perform their obligations to their customers as required by law.

Is it difficult to pass the mortgage brokers’ test?

Upon completion of educational requirements, you must pass the mortgage broker test to receive your license. It's a two-part test called the Safe Mortgage Loan Originator Exam, and it can be a bit challenging. Out of almost 87,600 national test-takers, 57% passed on their first attempt. The test includes both a state and national portion and requires a minimum score of 75% to pass.

Do mortgage brokers need to be licensed?

Yes, all mortgage brokers need to be licensed. Individuals need to complete a 20-hour class that goes over state and federal laws for mortgages and other important information. Next, individuals take the official test with the National Mortgage Licensure System.

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