Find out how to get a home loan without going through a broker and reducing brokerage fees that can add to the total cost of the loan.
Brokers are intermediaries, that is to say, they provide a service by placing themselves between the borrower and the bank, if some have solid arguments and especially of real added value, this is not always the case and a borrower with a minimum of knowledge in personal finance will be able to manage alone. This is why many mortgage loan applicants prefer to go directly to a bank to apply and obtain financing, which avoids paying brokerage fees or a mandate.
Home loan without a broker is entirely possible
You just need to prepare your loan request, taking care to gather the information necessary for the study and if possible, go around the banks. Most institutions will ask for the same supporting documents, so it is relatively easy to compare and negotiate the funding proposals yourself. Care should be taken, however, to seek clarification on points that may be misunderstood, in the interest of making the right decision.
How to get your mortgage without a broker?
It is important to know that a broker can only work through a mandate, if the borrower went to a broker to obtain information and if he even filed documents, he is not required to pay anything to the broker until a mandate has been signed, this mandate generally includes the conditions of fees. Borrowers sometimes find themselves stuck with the need to work with the broker, even if the exit gates are clearly established. There is never a commitment and a broker who says otherwise is not serious.
The ideal remains to prepare your file upstream, taking care to define the desired need, namely the amount of the mortgage, proof of income, bank accounts, proof of address, and other documents. It is possible to file a request by going directly to an agency or ideally via the websites of banks specialized in mortgage lending, namely that certain establishments are for example only accessible by online comparators.
Compare banks and mortgage offers
The mortgage loan simulator allows you to quickly compare banks by filing a single application. This avoids moving around and wasting time with bank appointments since the simulator will take care of doing this work automatically and above all for free. The interest is to receive the offers of the banks and credit institutions in order to be able to compare the proposals and choose the best rate. It is free and without obligation.