First-time home buyer? What you need to know about working with a mortgage broker [Infographic]

Published: Jun 20, 2017

First-time homebuyers are faced with a number of difficult decisions and one of them is undoubtedly how to approach mortgage shopping. While experienced buyers may prefer to do it on their own, first-time buyers often need the guidance of an experienced mortgage broker.

Working with a broker can offer a number of benefits such as saving time, cutting costs, getting more diverse types of mortgages as well as more access to information. However, to make sure you are getting the full benefits of working with a mortgage broker, you need to know what to look for in one.

We created this infographic (featured in the Washington Post) to help you out with that. For example, did you know that most states require mortgage brokers to be bonded? The surety bond protects you in case you become the victim of fraud and can provide financial compensation.

To get all of the tips, be sure to check the whole infographic below! We also included some tips on what to do if you decide to do the shopping yourself.

Enjoy and don’t forget to share on social media and on your own website (there is an embed code below it!)

working with a mortgage broker infographic

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.