Loan Variation Form Broker Summary and Declaration BROKER DETAILS Broker name: Company name: Phone n 2025

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Mortgage brokers are licensed professionals who connect borrowers with lenders. They do not issue mortgages themselves. For each deal that they arrange, they typically receive a payment that equals 1% to 2% of the loan amount from either the borrower or the lender.
Mortgage brokers are professionals who help you find and get loans for buying vehicles, renovations, or even equipment for your business. We work for you, not the banks, and can look at many different loans to find the one that suits you best.
The three most common options for borrowers seeking a mortgage lender are mortgage brokers, direct lenders (e.g., banks and credit unions), and secondary market lenders (e.g., Fannie Mae and Freddie Mac).
A loan broker, or a mortgage broker, is the middle person in between a lender and a borrower. While a borrower can directly borrow from a lender, a loan broker can help the borrower decide which lender meets the borrowers financial goals.
A mortgage broker can offer a wider array of options and streamline the mortgage process, but working directly with a bank gives you more control and may cost less.
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