Written by:
Image
Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades.

Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers. While there, Paul authored and edited thousands of financial research briefs, was published on Nasdaq. com, Yahoo Finance, and dozens of other prominent media outlets, and appeared as a guest expert at prominent radio shows and i...

View all posts
Updated September 30, 2020

What is a Mortgage Broker?

A mortgage broker is an agent who connects property buyers with mortgage lenders.

How do Mortgage Brokers work?

A mortgage broker acts as a professional intermediary on a property buyer's behalf. A mortgage broker collects the property buyers' personal and financial information and connects them with mortgage lenders with competitive rates and mortgage terms. If the mortgage lender approves the property buyer's application, the mortgage broker collects a commission determined by the lender.

Why do Mortgage Brokers matter?

The role of a mortgage broker is solely to bring property buyers together with mortgage lenders. The mortgage broker has no involvement in the actual lending. For this reason, it is important not to confuse mortgage brokers with mortgage bankers, which are individuals and institutions with the financial resources to fund mortgages.

[If you're ready to buy a home, use our Mortgage Calculator to see what your monthly principal and interest payment will be.]

Ask an Expert about Mortgage Broker
At InvestingAnswers, all of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Mortgage Broker.
Be the first to ask a question

If you have a question about Mortgage Broker, then please ask Paul.

Ask a question

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers.

If you have a question about Mortgage Broker, then please ask Paul.

Ask a question Read more from Paul

Read this next

Paul Tracy - profile
Ask an Expert about Mortgage Broker

By submitting this form you agree with our Privacy Policy

Share
close
Don't Know a Financial Term?
Search our library of 4,000+ terms