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A mortgage specialist is a professional who helps borrowers find and apply for the best home loan options for their needs. They work for a bank or credit union which they can only provide recommendations for that company. A mortgage specialist can advise you on the different types of loans, interest rates, fees, terms, and conditions, and help you compare and negotiate the best deal.
The key responsibilities of a mortgage specialist is finding you the best deal, in most cases the best interest rate. Here are some key responsibilities of a mortgage specialist:
- Negotiating with credit lenders
- Analyzing and comparing different loan options
- Help clients with all the paperwork regarding their mortgage
- Act as an intermediary by communicating with lenders and borrowers.
The big difference between a mortgage specialist and advisor is specialists are commission only and can negotiate for you and the difference between brokers and specialists is that brokers work with multiple lenders while specialists only work with 1 lender.
