Expertise.com

Best Mortgage Brokers in Bozeman

Laurels
Laurels

We did the research for you!

Learn more
  • checkboxLicensing
  • checkboxUser Reviews
  • checkboxMystery Shopping Calls

Mortgage Brokers FAQs

Learn more
A Preferred Mortgage logo
Visit WebsiteWebsite

License Verified:

License: 288141

Nationwide Multistate Licensing System and Registry

A Preferred Mortgage

2066 Stadium Drive Suite 202, Bozeman, MT 59715
Visit WebsiteWebsite
  • Refinance

Business Description

A Preferred Mortgage provides real estate services in and around Bozeman. For over two decades, it has been working with first-time homebuyers, retired couples, investors, and self-employed individuals who want to achieve owning residential spaces. The company creates loan programs to enable clients to purchase primary residences, second homes, and condominiums. Its team processes conventional, jumbo, USDA rural development, VA, and FHA loans. Branch manager Brett Hyde heads an office with more than 85 years of combined lending experience.

License Verified:

License: 288141

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 (47)
Google
5.0 / 5 (26)
Yelp
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
Blue Roan Mortgage logo
Visit WebsiteWebsite

License Verified:

License: 2192139

Nationwide Multistate Licensing System and Registry

Blue Roan Mortgage

P.O. Box 615, Belgrade, MT 59714
Visit WebsiteWebsite
  • Refinance

Business Description

Blue Roan Mortgage is a full-service brokerage firm helping individuals and families in Bozeman and the surrounding areas. It provides home purchase loans for different types of properties, including single-family and multi-family homes, condominiums, townhomes, and manufactured homes. Types of loans it offers include conventional, FHA, VA, and USDA loans. In addition, the firm helps clients refinance existing mortgages. Owner Matthew Simon has been working in the mortgage industry for more than six years.

License Verified:

License: 2192139

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 (6)

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
Chris Opstedal logo
Visit WebsiteWebsite

License Verified:

License: 121177

Nationwide Multistate Licensing System and Registry

Chris Opstedal

1811 Koch, Bozeman, MT 59715
Visit WebsiteWebsite
  • Refinance

Business Description

Chris Opstedal is a branch sales manager for the Fairway Independent Mortgage Corporation in Bozeman. He began his mortgage career in 2003 and joined the company in 2014, where he provides clients with in-house underwriting and industry-standard loan plans. His offered programs include jumbo, USDA, 203K, FHA, and VA loans. Opstedal navigates borrowers throughout the process and directs them to the company's website, which features decision-making tools like a payment calculator and refinance analysis. He was given the authorization to teach residential finance to Realtors.

License Verified:

License: 121177

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 (21)

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
Erica Renslow logo
Visit WebsiteWebsite

License Verified:

License: 707830

Nationwide Multistate Licensing System and Registry

Erica Renslow

116 N Bozeman Ave Suite 100A, Bozeman, MT 59715
Visit WebsiteWebsite
  • Refinance

Business Description

Erica Renslow is a loan officer who handles the housing needs of individuals and families in Bozeman. She offers various mortgage solutions that help her clients acquire their dream homes in monthly installments. These include conventional, jumbo, and government-backed loans, such as FHA, VA, and USDA. Renslow also assists people who want lower monthly payments and interest rates through refinancing and senior citizens who need to borrow money through reverse mortgages. Other products that she offers include home renovation and buydown loans.

License Verified:

License: 707830

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.
4.7
Google
5.0 / 5 (30)
Facebook
5.0 / 5 (4)

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
Gum Tree Mortgage logo
Visit WebsiteWebsite

License Verified:

License: 1737405

Nationwide Multistate Licensing System and Registry

Gum Tree Mortgage

290 W Haley Springs RD Unit 2A, Bozeman, MT 59718
Visit WebsiteWebsite
  • Refinance

Business Description

Gum Tree Mortgage provides real estate solutions to individuals and families in Bozeman. It works with first-time buyers and investors who want to have different types of residential spaces. The company processes various mortgage products, such as USDA, VA, FHA, jumbo, and conventional loans. Its team also caters to clients seeking refinancing solutions and helps them create strategies for reducing their interest rates and monthly mortgage payments. The agency has been operating for over 18 years.

License Verified:

License: 1737405

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
4.9 / 5 (61)

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
––
Kris Brewer logo
Visit WebsiteWebsite

License Verified:

License: 2121953

Nationwide Multistate Licensing System and Registry

Kris Brewer

327 Coulee Drive, Bozeman, MT 59718
Visit WebsiteWebsite
  • Refinance

Business Description

Kris Brewer, one of the loan originators of Clear Mortgage, caters to borrowers in Bozeman and the surrounding areas. He assists individuals and families in securing loan programs, helping them navigate the lending process from the pre-qualification to the closing stage. The mortgage professional also serves as a Realtor for Keller Williams Montana Realty. At Clear Mortgage, loan processing, underwriting, and funding are accomplished in-house, enabling the team to close loans in four weeks or less.

License Verified:

License: 2121953

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
Facebook
5.0 / 5 (4)
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
PRMG Bozeman logo
Visit WebsiteWebsite

License Verified:

License: 75243

Nationwide Multistate Licensing System and Registry

PRMG Bozeman

1716 W Main Street, Suite 8F, Bozeman, MT 59715
Visit WebsiteWebsite
  • Refinance

Business Description

PRMG Bozeman addresses the real estate needs of families and individuals who want to purchase investment properties. Its team helps first-time buyers and investors file loan applications and processes various mortgage products, such as VA, FHA 203k, standard renovation, and reverse loans. The Fannie Mae and Freddie Mac direct lender also provides jumbo and non-QM mortgage loan options. It also assists clients in creating strategies on how they can consolidate their debts. PRMG has been in the industry for over two decades.

License Verified:

License: 75243

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
4.7 / 5 (47)
Yelp
1.0 / 5 (1)
Thelen Mortgage logo
Visit WebsiteWebsite

License Verified:

License: 219934

Nationwide Multistate Licensing System and Registry

Thelen Mortgage

11 West Main St. Ste 220, Belgrade, MT 59714
Visit WebsiteWebsite
  • Refinance

Business Description

Thelen Mortgage is a brokerage firm that addresses the housing needs of families and individuals in Bozeman. The company helps its clients in purchasing their desired residential property by working with wholesale lenders in providing various loan options. These include lender-assisted down payments, jumbo, and government-backed loans such as FHA, USDA, and VA. It also assists those who want lower monthly payments and interest rates through different refinancing solutions. Thelen Mortgage has been in the industry since 2001.

License Verified:

License: 219934

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
4.9 / 5 (16)
Back to Providers

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.

Read all FAQs