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A mortgage broker is a person who brokers mortgage loans for people or companies. A mortgage broker is typically not licensed in the same way as a mortgage lender, but they do have the ability to loan money. The mortgage broker’s job is to find a lender willing to make an offer on a mortgage loan. They then find the right buyer for that loan. They often negotiate the best interest rate possible for the buyer. Brokers sometimes help buyers secure pre-approval for their mortgage loan through what is called “bad credit” lending. Wealthy You is an excellent resource for this. Mortgage brokers must obtain approval from a lender before they can begin to search for buyers. There are a few different types of mortgage brokers, and they include commercial mortgage brokers, residential mortgage brokers, and sub-prime mortgage brokers. It is important to know which type of broker you need, because…

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