Expertise.com

2024

Last updated:

Best Mortgage Brokers in Parma, OH

Our Recommended Top 4

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 Parma Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

23Reviewed

15Curated

4Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

707 Brookpark Rd, 201, Cleveland, OH 44109
WebsiteLicense: 1236405

Expertise.com Rating

Review Sources

Google
4.5 (87)
Facebook
4.6 (21)

Why choose this provider?

Secure Lending, Inc., offers a variety of residential and commercial loans to borrowers in the Parma area. Its choices include fixed- and adjustable-rate mortgages, FHA and USDA plans, and conventional loans that provide varying degrees of financial coverage for new property purchases and home equities. Its team connects applicants with specific programs and lenders that match their current income situations and credit histories. It compares and contrasts loaning options from different local lenders and conducts recurring evaluations of market rates and conditions.

  • Refinance

1861 W 25th Street,, Cleveland, OH 44113
WebsiteLicense: 2122771

Expertise.com Rating

Review Sources

Google
4.9 (62)

Why choose this provider?

Social Mortgage offers comprehensive solutions to the Parma community's homebuying needs. Its loan professionals assess homeowners' needs, develop specialized solutions, obtain approvals, and aid with document completion. Additionally, the company delivers mortgage options for different borrowers, including first-time homebuyers, retirees, veterans, and refinancing homeowners. It deploys after-funding services that include monitoring loans with current market conditions and communicating to clients regarding improvement opportunities. Social Mortgage's team has a combined experience in the industry of over 45 years.

  • Refinance

3500 Lorain Ave Suite 300, Cleveland, OH 44113
WebsiteLicense: 3446

Expertise.com Rating

Review Sources

Google
5.0 (8)

Why choose this provider?

Gold Star Mortgage Financial Group has been originating home loans to individuals and families in Parma since 2000. The company helps customers in finding the right financing options for their purchasing, refinancing, and renovation needs. It offers conventional, jumbo, FHA, and VA loans. It also assists senior local borrowers aged 62 years and older with reverse mortgages. In addition, it grants downpayment assistance to eligible homeowners. The agency is committed to providing its clients with technology-driven tools that allow loan applications to be closed on time.

  • Refinance

2019 Center Street, Suite 103, Cleveland, OH 44113
WebsiteLicense: 1804948

Expertise.com Rating

Review Sources

Google
5.0 (281)
Facebook
4.9 (29)

Why choose this provider?

AMKO Lending caters to clients in Parma and the neighboring cities. It offers mortgage services for individuals wishing to purchase their first homes, vacation houses, or investment properties. It also serves clients wanting to refinance their current mortgage loans to consolidate their debts, lower their monthly payments, or shorten their terms. AKMO Lending is licensed to operate in various states, including Michigan, Colorado, Pennsylvania, Kentucky, Florida, and Texas. The company's CEO, Marshall, has been helping individuals and families with their mortgage needs for over 13 years.

  • Refinance
  • New Construction

Compare our Top Mortgage Brokers

NameExpertise RatingAddressPromotionsLearn more
Secure Lending Inc.
707 Brookpark Rd, 201, Cleveland, OH 44109
Social Mortgage
1861 W 25th Street,, Cleveland, OH 44113
Gold Star Mortgage Financial Group
3500 Lorain Ave Suite 300, Cleveland, OH 44113
AMKO Lending
2019 Center Street, Suite 103, Cleveland, OH 44113

FAQs

  • 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.