What does a mortgage broker do?

A mortgage broker acts as an intermediary between a lender and a borrower. In other words, they facilitate the transaction between you and your bank or mortgage lender.They take care of the legwork of searching for the best mortgage product and interest rate by utilizing their network of lenders and financial institutions.

A commercial mortgage broker can do even more. They do analysis on fianncial statements of a business and operating statements of a commercial building. They might go even further to review your lease agreements, as well as appraisal reports in order to better negotiate with lenders.

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