| New Hampshire mortgage brokers facilitates for the | | | | Although most of New Hampshire mortgage brokers |
| meeting of lenders and borrowers in New Hampshire | | | | are sincere and reputable, there may be a small |
| area. A mortgage broker is basically a middleman and | | | | number who try to use unfair and misleading practices. |
| is quite similar to real estate brokers. The success of | | | | The borrower should gain a minimum amount of |
| mortgage brokers depends on the rate in which they | | | | knowledge regarding New Hampshire mortgages |
| are able to connect a mortgage seeker with | | | | before approaching a broker. A licensed New |
| appropriate mortgage lender. | | | | Hampshire mortgage broker provide you a rate lock |
| New Hampshire mortgage brokers help the borrowers | | | | disclosure, a disclosure for payment of services, and a |
| in finding the best loan in New Hampshire, which is | | | | disclosure of the right to transfer. |
| perfectly right for their needs and requirements. They | | | | A person who wants to do business as a mortgage |
| contact multiple lenders regarding your application. The | | | | broker in New Hampshire requires a license. All |
| mortgage brokers also confirm credit and property | | | | aspects of the mortgage broker application and |
| aspects of the loan and give information to the lenders | | | | activities in the state are supervised by the New |
| for assessing the credit worthiness and credit history | | | | Hampshire Banking Department. The state issues |
| of the borrower. | | | | separate licenses for first mortgages and second |
| In general, a mortgage broker is only a facilitator and | | | | mortgages. All New Hampshire brokers for first |
| does not provide any loan himself. But, some brokers | | | | mortgages must provide a $20,000 continuous Surety |
| are also lenders, i.e. mortgage brokers have their own | | | | Bond. If their net worth falls below $100,000 at any |
| loan products. If they offer their own product, it is wise | | | | time, the Surety Bond will have to be raised to |
| to attain a clear, understandable idea why their product | | | | $100,000. |
| is the best choice for your situation. | | | | |