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Best Mortgage Brokers in Henderson

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All American Home Mortgage logo
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License Verified:

License: 274320

Nationwide Multistate Licensing System and Registry

All American Home Mortgage

8915 South Pecos Road, Henderson, NV 89074
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  • Refinance
  • Purchase Transactions

Business Description

All American Home Mortgage is a mortgage lender that guides Henderson customers in exploring the different programs available in the mortgage market. Along with residential purchase and refinance loans, the business specializes in preparing lending solutions for high-rise condominiums and condotel buildings. Moreover, it has funded multiple condotel projects, namely Queensridge, Trump International, Park Towers, and Vdara. All American Home Mortgage also helps self-employed professionals and borrowers with credit score challenges and bankruptcy history. The company also operates in Florida, Colorado, and Nebraska.

License Verified:

License: 274320

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 (20)
Alterra Home Loans logo
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License Verified:

License: 133739

Nationwide Multistate Licensing System and Registry

Alterra Home Loans

170 South Green Valley Parkway, Henderson, NV 89012
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  • Refinance

Business Description

Alterra Home Loans is a mortgage company headed by a CEO with over 27 years of experience in the industry. It provides residential loan and refinancing solutions for first-time homebuyers and diverse markets in Henderson and other surrounding communities. Its line of products includes jumbo, FHA, VA, USDA, and fixed and adjustable mortgages. The company has been named as one of the top tech-savvy companies by Mortgage Tech Magazine. It also participates in community causes such as the Breast Cancer Walk.

License Verified:

License: 133739

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
Google
5.0 / 5 (25)
Andrew Dort logo
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License Verified:

License: 2230004

Nationwide Multistate Licensing System and Registry

Andrew Dort

11411 Southern Highlands Parkway, Suite 350, Las Vegas, NV 89141
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  • Refinance
  • New Construction

Business Description

Andrew Dort is a mortgage broker who serves clients in Henderson and the surrounding areas. He provides lending solutions to people planning to buy or build their own homes. It explains the differences between the mortgage programs available to first-time or seasoned homebuyers to help them decide which suits their needs. The loan options available include conventional, jumbo, FHA, VA, USDA, and adjustable-rate mortgages. Andrew Dort has assisted hundreds of homebuyers with their financing since 2015.

License Verified:

License: 2230004

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 (73)
Yelp
5.0 / 5 (2)
Brenda Casas logo
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License Verified:

License: 366261

Nationwide Multistate Licensing System and Registry

Brenda Casas

340 East Warm Springs Road, Las Vegas, NV 89119
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  • Multi-Family Loans

Business Description

Brenda Casas is a licensed mortgage loan officer based in Las Vegas who also operates in Henderson. She is an agent for CrossCountry Mortgage, Inc. and offers mortgage solutions to first-time homebuyers and current homeowners. She has successfully helped over 2,000 families secure their home purchases through loan programs such as conventional loans, government loans, and jumbo loans. Brenda has been in the industry for more than 15 years and was recognized as the Top Hispanic Loan Officer in Nevada in 2019.

License Verified:

License: 366261

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
4.9 / 5 (106)
Facebook
5.0 / 5 (105)
Yelp
4.5 / 5 (6)
Capella Mortgage logo
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License Verified:

License: 372157

Nationwide Multistate Licensing System and Registry

Capella Mortgage

3765 East Sunset Road, Las Vegas, NV 89120
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  • Refinance

Business Description

Capella Mortgage is a brokerage that serves Las Vegas and Henderson. It helps its clients acquire mortgages for various types of property, including single-family homes, townhouses, and condos. Its mortgage professionals also have experience in providing financing options for those looking to purchase commercial properties, such as office buildings and hemp farms. Moreover, the company offers refinancing services. Corinne Cordon, the owner of Capella Mortgage, has been working in the loan originating industry since 1996.

License Verified:

License: 372157

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
Google
4.0 / 5 (21)
Facebook
4.0 / 5 (11)
David Ross logo
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License Verified:

License: 262463

Nationwide Multistate Licensing System and Registry

David Ross

701 North Green Valley Parkway, Henderson, NV 89074
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  • Refinance

Business Description

David Ross is a mortgage broker under Cardinal Financial that serves Henderson and the surrounding areas. David and his team provide professional assistance to people looking to buy their first home, buy an investment property, or refinance. He offers several loan programs, including conventional, no down payment, jumbo loans, and FHA and VA mortgages. David also provides challenged credit, second mortgage, high debt ratio, and investor loans. Past clients have praised David and his team for handling their concerns promptly.

License Verified:

License: 262463

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 (185)
Donna Jo Bennett logo
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License Verified:

License: 376487

Nationwide Multistate Licensing System and Registry

Donna Jo Bennett

701 North Green Valley Parkway, Henderson, NV 89074
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  • New Construction
  • Refinance

Business Description

Donna Jo Bennett is a loan officer at Guild Mortgage that works with clients in Henderson and the surrounding areas. Bennett can help borrowers with a range of home loan options, including conventional, USDA, FHA, VA, and jumbo loans. She can also assist clients in applying for Guild Mortgage's other specialty programs. Bennet and other mortgage professionals at Guild Mortgage offer different loan products for a variety of clients, including first-time homebuyers, military families, and rural residents.

License Verified:

License: 376487

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
4.0 / 5 (828)
Google
5.0 / 5 (23)

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
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Five Star Mortgage logo
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License Verified:

License: 245495

Nationwide Multistate Licensing System and Registry

Five Star Mortgage

9065 South Pecos Road Suite 200, Henderson, NV 89074
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  • Refinance

Business Description

Five Star Mortgage is a Henderson-based mortgage company that is dedicated to providing a wide range of financial services to the metro. The company specializes in residential mortgages and refinancing for outstanding loans. Five Star Mortgage caters to both first-time buyers and long-term homeowners by providing personalized solutions to their mortgage and loan concerns. The company also analyzes the current market trends in the area to provide sound advice regarding the smartest decision to make in real estate properties.

License Verified:

License: 245495

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
4.0 / 5 (163)
Facebook
4.0 / 5 (48)
Yelp
4.0 / 5 (30)
Jacqueline O'Shaughnessy logo
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License Verified:

License: 382900

Nationwide Multistate Licensing System and Registry

Jacqueline O'Shaughnessy

3960 East Patrick Lane, Las Vegas, NV 89120
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  • Refinance

Business Description

Jacqueline O'Shaughnessy is a loan officer who offers mortgage solutions in Henderson. She guides individuals looking to refinance their existing loans or buy new homes, including first-time homebuyers. The available loan products are conventional, VA, FHA, and commercial lending. Jacqueline has over 24 years of experience in the mortgage business, where she has acquired the connections and knowledge needed to effectively serve her clients. Part of her service is walking clients throughout the entire loan process.

License Verified:

License: 382900

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
Facebook
4.0 / 5 (5)
Yelp
5.0 / 5 (1)
Jason Hill logo
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License Verified:

License: 377676

Nationwide Multistate Licensing System and Registry

Jason Hill

170 South Green Valley Parkway, Henderson, NV 89012
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  • Refinance

Business Description

Jason Hill is a mortgage advisor for Canopy Mortgage, a lending company providing Henderson home buyers a variety of loan options that suit their residential purchase needs. Hill, along with the company, provides loan programs such as FHA, VHA, USDA, non-QM, and jumbo loans. Additionally, the mortgage lending business offers conventional new home and refinancing loans that are available in 15, 20, and 30-year fixed terms. Hill graduated with a Bachelor's Degree in Business Administration and Management.

License Verified:

License: 377676

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
Google
5.0 / 5 (25)

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
Mann Mortgage logo
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License Verified:

License: 2550

Nationwide Multistate Licensing System and Registry

Mann Mortgage

770 Coronado Center Drive, Henderson, NV 89052
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  • Refinance

Business Description

Mann Mortgage is a loan company that provides solutions to the financing needs of new and seasoned investors within the Henderson metro and its surrounding communities. It has offered FHA, VA, renovation, construction, and jumbo mortgages since it was founded in 1989. As a family-owned business, it had assisted qualified borrowers in securing a mortgage through outside partnerships, simplified processes, and updated technology. Its team of professionals also offers refinancing services and personal advice to loan applicants.

License Verified:

License: 2550

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 (18)
Millennium Mortgage Group logo
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License Verified:

License: 1786240

Nationwide Multistate Licensing System and Registry

Millennium Mortgage Group

2520 Saint Rose Parkway, Henderson, NV 89074
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  • Refinance

Business Description

Millennium Mortgage Group is a company serving homeowners in the Henderson metro and the surrounding areas. The products it offers include conventional, jumbo, VA, and commercial loans. It also assists with refinancing as well as reverse mortgages. Millennium Mortgage Group is owned by Kenneth Sarna, who has more than 10 years of experience in mortgage banking. The company strives to provide its clients with quick service through the use of online technology and local knowledge.

License Verified:

License: 1786240

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 (25)
Pinnacle Mortgage Solutions logo
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License Verified:

License: 1188467

Nationwide Multistate Licensing System and Registry

Pinnacle Mortgage Solutions

1489 West Warm Springs Road, Henderson, NV 89014
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  • Refinance

Business Description

Pinnacle Mortgage Solutions is a company based in Henderson. It provides mortgage lending services for residential properties in the area. Its professionals ensure to provide clients with quality home loans. Pinnacle Mortgage Solutions offers mortgage lending types such as conventional and home purchase loans, fixed-rate mortgages, state and local housing programs, and reverse mortgage and home refinance loans. Its professionals also provide FHA, VA, and jumbo loans as well as conforming mortgage rates. The company's goal is to create long-lasting relationships for its customers.

License Verified:

License: 1188467

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.
4.1
Google
4.0 / 5 (42)
Yelp
4.0 / 5 (7)
Pulte Mortgage - Las Vegas logo
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License Verified:

License: 372947

Nationwide Multistate Licensing System and Registry

Pulte Mortgage - Las Vegas

7255 South Tenaya Way, Las Vegas, NV 89113
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  • New Construction

Business Description

Pulte Mortgage is a wholly owned financial services subsidiary of PulteGroup, Inc., that serves clients in Henderson. The company offers various loan programs for borrowers that include fixed-rate mortgage loans, adjustable-rate mortgage loans, conventional loans, FHA loans, and VA home loans. It also specializes in financing home construction projects for the customers of the Pulte Homes, Centex, Del Webb, DiVosta, and John Wieland Homes brands. Since its establishment in 1972, it has funded more than 700,000 homes.

License Verified:

License: 372947

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
4.9 / 5 (659)
Ryan Erekson logo
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License Verified:

License: 445075

Nationwide Multistate Licensing System and Registry

Ryan Erekson

9065 South Pecos Road, Henderson, NV 89074
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  • New Construction

Business Description

Ryan Erekson is a mortgage broker under Guild Mortgage. He helps clients understand their financing options for real estate and assists them in making educated home loan decisions. As a loan officer of Guild Mortgage, Ryan offers a number of products and services that can cater to his clients' needs. Some of these include things like FHA loans, USDA loans, VA loans, reverse mortgages, adjustable rates, and lock and shop.

License Verified:

License: 445075

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
Google
5.0 / 5 (40)
Facebook
5.0 / 5 (40)

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
Security National Mortgage Company logo
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License Verified:

License: 771959

Nationwide Multistate Licensing System and Registry

Security National Mortgage Company

2635 Saint Rose Parkway, Henderson, NV 89052
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  • Refinance
  • Reverse Mortgages

Business Description

Security National Mortgage Company is a lender that provides residential mortgage loans in Henderson. The available options are refinancing, reverse and fixed-rate mortgages, VA, FHA, and jumbo loans. It collaborates with mortgage investors to deliver various customized loan products for other sectors, such as business, rural, and commercial. Security National Mortgage Company has over 50 years of experience in the industry. It employs almost 1,000 loan officers and has hundreds of branches across the country.

License Verified:

License: 771959

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 (100)

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
––
Sierra Pacific Mortgage -  Retail Branch logo
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License Verified:

License: 1788

Nationwide Multistate Licensing System and Registry

Sierra Pacific Mortgage - Retail Branch

2580 Saint Rose Parkway, Henderson, NV 89074
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  • Refinance

Business Description

Sierra Pacific Mortgage is a Folsom-based mortgage company with a retail branch office providing services in Henderson. It has expanded from a small company to a company providing 5.9 Billion worth of loans funded to 19,500 families in 2019 alone and a total amount of 20 Billion serviced loans since its founding in 1986. Sierra Pacific's mortgage professionals work one-on-one with clients and guide them through the process of refinancing, purchasing homes, or consolidating their debts.

License Verified:

License: 1788

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
Yelp
5.0 / 5 (81)
Facebook
5.0 / 5 (25)
Terri Coronado-Dunn, Real Estate & Mortgage Broker logo
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License Verified:

License: 5098

Nationwide Multistate Licensing System and Registry

Terri Coronado-Dunn, Real Estate & Mortgage Broker

1489 West Warm Springs Road, Henderson, NV 89014
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  • Refinance

Business Description

Terri Coronado-Dunn, Real Estate & Mortgage Broker has an extensive background in local development and investing for clients in California and Nevada. Terri spearheads the process of helping buyers find a home, appropriate funding, register, and inspect neighborhoods. She is a member of the National Association of Realtors, California Association of Realtors, Pacific West Association of Realtors, Sandicor Association of Realtors, Nevada Association of Realtors, and the Greater Las Vegas Association of Realtors.

License Verified:

License: 5098

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)
The Escobedo Team logo
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License Verified:

License: 1509679

Nationwide Multistate Licensing System and Registry

The Escobedo Team

10075 South Eastern Avenue, Henderson, NV 89052
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  • New Construction
  • Refinance

Business Description

The Escobedo Team is an independently owned and operated mortgage company located in Henderson. It offers different loan options to homebuyers such as jumbo, VA, FHA, and USDA loans. It also has 15- and 30-year fixed mortgages. Its clients can see if they can be pre-approved by using the free and accessible tools available on the company's website. The team consists of the Escobedo family that has more than 30 years of combined experience in the mortgage industry.

License Verified:

License: 1509679

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 (40)
Facebook
5.0 / 5 (24)
Tiffani Planck logo
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License Verified:

License: 372509

Nationwide Multistate Licensing System and Registry

Tiffani Planck

223 North Pecos Road, Henderson, NV 89074
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  • New Construction
  • Refinance

Business Description

Tiffani Planck, an experienced mortgage professional working for Vision Home Mortgage, offers mortgage solutions to clients in Henderson. Her aim is to help homebuyers secure loan programs that are suitable for their needs and educate them regarding the different kinds of loans available. Some of the loan options she assists clients with are FHA loans, VA loans, 203k loans, and fixed mortgages. She also attends to clients' refinancing concerns. Planck has tools and resources used in getting pre-approved, calculating payments, and searching homes.

License Verified:

License: 372509

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 (23)
Facebook
5.0 / 5 (7)
UrbanPointe Lending logo
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License Verified:

License: 4841

Nationwide Multistate Licensing System and Registry

UrbanPointe Lending

9480 South Eastern Avenue, Las Vegas, NV 89123
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  • Refinance

Business Description

UrbanPointe Lending is a mortgage broker that serves clients in Henderson. It offers a wide range of mortgage loan options for homeowners and homebuyers, including construction, home equity, fixed-rate, adjustable-rate, jumbo, and reverse mortgage loans. The owner, Sophie Lapointe, is a mortgage broker who has more than 20 years of experience in originating loans in the Southern Nevada real estate industry. Several clients have praised her professionalism, knowledge about developments in the mortgage industry, honesty, and communication skills.

License Verified:

License: 4841

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 (18)
Village Capital & Investment LLC logo
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License Verified:

License: 3317

Nationwide Multistate Licensing System and Registry

Village Capital & Investment LLC

2550 Paseo Verde Parkway, Henderson, NV 89074
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  • Refinance

Business Description

Operating in Henderson, Village Capital & Investment LLC has a team of mortgage professionals who have more than 50 years of combined experience in the mortgage banking industry. The company serves homebuyers and homeowners in the metro and its surrounding areas. It offers a variety of mortgage products, such as FHA and VA refinancing options. In addition, Village Capital & Investment LLC is licensed to operate in other states and has offices in these areas, such as Arizona, Utah, and Missouri.

License Verified:

License: 3317

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.
4.1
Google
4.0 / 5 (392)
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2.0 / 5 (40)
Vision Home Mortgage logo
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License Verified:

License: 357565

Nationwide Multistate Licensing System and Registry

Vision Home Mortgage

223 North Pecos Road, Henderson, NV 89074
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  • Refinance

Business Description

Founded in 2000, Vision Home Mortgage is a women-owned and operated local mortgage company in Henderson. The company offers a vast array of services, including conventional mortgages, streamline refinancing, investment properties, FHA, and VA IRRLS. It also uses its website to make it accessible and efficient for clients to schedule amortization, calculate mortgages, and secure an online application. The company's loan advisors are available seven days a week for inquiries. Vision Home Mortgage is an Equal Housing Lender.

License Verified:

License: 357565

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)
Google
4.6 / 5 (9)
Yelp
5.0 / 5 (9)
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.

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