Best Mortgage Brokers in El Paso

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License Verified:

License: 1770420

Nationwide Multistate Licensing System and Registry

Cadence Lending Group

211 West Yandell, El Paso, TX 79902
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Business Description

Cadence Lending Group is a home financing company that attends to the mortgage needs of El Paso residents. The firm assists homebuyers and real estate investors in securing a home loan that fits their needs and requirements. Its independent mortgage brokers represent multiple lenders that can offer a variety of loan options, such as fixed-rate loans, adjustable-rate mortgages, FHA, VA, and USDA home loans. The team also provides jumbo loans, interest-only mortgages, and graduate payment home loans. The company's staff is fluent in English and Spanish.

License Verified:

License: 1770420

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.
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4.0 / 5 (40)
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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.
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Frequently Asked Questions

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.

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.

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.

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