If you're finally at a point in life where you can afford a home, you need to approach the mortgage process carefully. It doesn't have to be stressful or drag out if you hire a mortgage broker, who can be of service in a couple of key ways.  Research Your Credit History No matter what type of home you want to buy with a mortgage, you need to know as much as you can about your credit.

When you're a first-time homebuyer, the mortgage process can seem intimidating and overwhelming. It's important to understand who the key players are. Here's a closer look at each role, how they interact during the loan process, and why each is important for your successful purchase. Mortgage Broker A mortgage broker is a licensed financial professional who helps people find and secure financing for their home purchases. The broker evaluates a client's financial situation to determine which lender will offer them the best loan options.

A bank statement home loan is a loan that a retiree or a self-employed individual may seek. This type of loan does not require that traditional tax forms are submitted. Instead, a person's approval is based on how much money is routinely deposited into their bank account.  Self-Employed Loans A self-employed mortgage loan is also referred to as a 1099 loan or a bank statement mortgage loan. The approval for this type of loan relies heavily upon the bank statement that an applicant furnishes.

If you are in the market for a mortgage loan, you may want to consider turning to a mortgage broker to help you secure the financing you require. While you are not required to use the services of a broker to obtain a mortgage loan, there are several reasons why you should seriously consider using these services. You can learn more about three of these reasons below. Reason #1: Mortgage Brokers Have Access To More Potential Lenders