Mortgage broker - Financial definition

Mortgage brokers act as intermediaries between individuals seeking to obtain mortgage loans and financial institutions offering mortgage products. They assist borrowers in finding suitable loan options from various lenders, negotiate terms on their behalf, and facilitate the application process. Brokers often have access to multiple lending sources, allowing them to offer borrowers a range of loan products and competitive rates. Their expertise helps borrowers navigate the complexities of the mortgage market, ensuring they secure loans tailored to their financial needs and goals.