Dave: Hey friends of Black Diamond Mortgage, Dave Boye and Matt Rizzolo here. Today is National Independent Mortgage Broker Day, and in honor of that, we wanted to talk about six things that make mortgage brokers the best place to get money to buy or refinance a home. One of them might be obvious, but mortgage brokers only do mortgages. We don’t deposit funds, we’re not protecting the depositors’ money, and we’re just trying to find as many ways as possible to get you a mortgage for your home, so we’re going to seek all the options available to you. That is our specialty.
Matt: Another way we can help is we have access to lower rates and costs. We have multiple lenders we can pair you up with and there’s always an incentive or special pricing going on with one of those lenders. One month it might be one lender trying to get more deals, and the next month it might be a different lender. We want to find you that lower rate, so we’re going to look for that incentive pricing and pass it on to you.
Dave: Yeah we’ve seen some of our lenders specifically reaching out saying this month’s a better deal.
Matt: Yep, sometimes that’s half a percent on a loan amount, and that can save you a lot of money at the closing table.
Dave: Another thing about the mortgage broker is we are local people who live in the community that you’re doing business in. If I’m the mortgage broker, I’ll see you again later, so I care about all the details of the transaction because I know you. Also, we know everything going on in this market. We’re in Montana and there are a lot of things that go on here that apparently the other 49 states have no idea what we’re talking about, so you need to be doing business with someone who lives here. If you want a house on the river, or a vacation property, or on a private road in the middle of nowhere, use the person who lives there to get the mortgage.
Matt: One other advantage is that we have a greater variety of mortgage products. We have those different lenders and have pretty much every loan product under the sun. We have all kinds of government loans, your conventional loans, and we also have some lenders that can act as a local bank and do custom, specific loans for those unique properties. We won’t have any property that will scare us away. We will find the right lender to get that loan funded.
Dave: If another lender is scared, come to our office because we aren’t scared.
Dave: The last one we have is that we aren’t a specific bank. At Black Diamond Mortgage, when you close the loan, it’s going to be in the name of the lender who gave you the loan. We’re not going to do a switch-a-roo and close in our name and the next day you have a different lender. This is a huge advantage. One reason is it isn’t my money on the table, so I’m not trying to protect my money. When the lender makes the decision to lend to you and you close, you have a loan with them, so I don’t have to worry about what happens right after closing. For you, it’s simpler because you can start setting up your payments. The way we do business is we close in the name of your lender. With that said, what day is it again Matt?
Matt: National Independent Mortgage Brokers day.
Dave: Greetings from BDMC, your independent mortgage brokers.