Why use a mortgage broker? Learn how a broker gives you better rates, more loan options, lower closing costs, and personalized guidance—backed by real Rhode Island case studies.

Why Use a Mortgage Broker?

When you're buying or refinancing a home, the mortgage you choose doesn't just affect your rate - it affects your monthly payment, your cash at closing, and your long-term financial flexibility.

So, the real question isn't "Where can I get a mortgage?"
It's "Who is actually working for me?"

Here's why working with a mortgage broker makes a difference.

You're Not Limited to One Bank's Opinion

When you walk into a bank, you're dealing with one lender, one set of guidelines, and one point of view.

As a mortgage broker, we work with over 150 different lenders. That means banks are competing for your business - on rate, terms, and flexibility.

If one lender sees your situation as too complicated, we don't just say "no."
We pivot. We get a second opinion. And often, that changes everything.

Real example:
We recently helped a buyer who was already approved at a bank - but the rate was so high they no longer qualified for the home they wanted. By shopping the loan across multiple lenders, we were able to lower their rate by ⅜ of a percent and reduce their closing costs by over $2,000. That meant:

• A lower monthly payment
• More buying power
• More money left in the bank after closing

That's the difference competition creates.

Lending Standards Are Not Like They Were Leading Up to the Crash

Brokers Excel Where Banks Get Uncomfortable

Banks are designed to be risk averse. They like clean cookie-cutter files.

But here in Rhode Island, real estate is rarely cookie-cutter.

We routinely help clients with:

• Two properties on one lot
• Multifamily homes
• Coastal and waterfront properties
• Older housing stock
• Unique zoning or property layouts

We've closed loans on waterfront homes where lenders require specialized wind-rated windows. We've financed properties with multiple structures on a single parcel. These are deals that are often denied at a local bank - not because they're bad deals, but because they don't fit neatly into a box.

As a broker, we have lenders built for these situations.

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When Income on Paper Doesn't Tell the Whole Story

One of the biggest advantages of working with a broker is access to loan programs most banks don't offer.

Case in point:
We recently worked with an investor who owned seven rental properties. He invested heavily in renovations and - thanks to a very diligent accountant - wrote off a significant amount of those expenses. On paper, his income looked negative.

A traditional bank couldn't move forward.

But as brokers, we had access to a DSCR (Debt Service Coverage Ratio) loan, which qualifies based on rental income - not personal tax returns. If the rent covered the mortgage payment, the loan worked.

That client bought their next investment property without skipping a beat.

How A DSCR Loan Can Help You Invest in Real Estate

Mortgage Brokers Are Often Cheaper - Not More Expensive

One of the most common myths we hear is:
"A broker must cost more."

It's often the opposite.

Banks charge underwriting fees, processing fees, and overhead costs tied to large buildings, advertising budgets, and salaried staff.

We run lean. We don't have highway billboards or Super Bowl commercials to pay for. And because of that, we're often able to deliver lower rates and lower closing costs.

Even better?
The lender pays us to deliver the loan.
We're not paid based on the rate - we're paid based on the loan amount. That means we're free to shop for the best possible rate without any conflict of interest.

30 Year Fixed Rate Mortgage

More Options for Real People, Not Perfect Profiles

We work with borrowers every day who don't fit a bank's ideal mold:

• Credit scores as low as 500
• Self-employed income
• Past credit events or temporary financial setbacks
• Non-traditional income sources

Banks often stop at the first "no."

We dig deeper. We use the guidelines available. We help craft explanation letters. We exhaust every option before giving up - because most clients don't need perfection, they need experience.

Speed Matters - But So Does Access

In competitive markets, timing is everything.

As a local mortgage broker, when something comes up:

• You don't call a 1-800 number
• You don't wait until Monday
• You call me directly

I work nights. I work weekends. And when sellers or agents need answers fast, that access can make the difference between winning or losing a deal.

The Relationship Doesn't End at Closing

For us, closing isn't the finish line, it's the starting point.

We stay in touch through:

• Monthly equity reports so clients know where they stand
• Loan anniversaries and financial check-ins
• Annual insurance reviews that often save real money

Your mortgage isn't static. Your life changes. And we believe your loan strategy should evolve with it.

This Is Personal - for Me

This isn't just a job.

This is a family business, started by my father over 30 years ago. It's my legacy.

I've seen firsthand how people are treated like numbers at large institutions. And I've seen how different it feels when someone takes the time to explain, strategize, and advocate.

That's why we do things the way we do.

So, Why Use a Mortgage Broker?

Because you deserve:

• More options
• Better strategy
• Lower costs
• Real advocacy
• And a partner who sees you as a person - not a file number

If you want a mortgage built around your goals - not a bank's limitations, working with a broker makes all the difference.