Mortgage Broker in the Philippines

In the Philippines, when you look for a real estate broker you will find a person engaged by a real estate developer or property owner to sell their properties for them. When you look for a mortgage broker you usually find a company not a person.

Below, read some definitions of a mortgage broker.

From Experian:

A mortgage broker is a person or company that can arrange a mortgage between you (the borrower) and a mortgage lender. They’ll work directly with you to help you decide what kind of mortgage you need, and then find a deal that matches your criteria – whether you’re a first time buyer or looking to remortgage your current home.

Why use a mortgage broker?

A mortgage broker can help navigate you through every stage of finding and applying for a mortgage – to get the best deal available based on your individual circumstances.

For example, their service may include:

• Helping you assess your financial situation

• Suggest the most suitable mortgage for your needs

• Searching the market to find deals that match your criteria

https://www.experian.co.uk/consumer/mortgages/guides/mortgage-brokers.html

Indeed:

Mortgage Broker act as an intermediary between a financial institution or lender and a prospective homeowner. A residential mortgage broker evaluates the buyer's financial and employment information and gathers mortgage loan options from multiple lenders. Once the buyer selects an option, the broker helps them complete the loan paperwork. A commercial real estate mortgage broker performs the same function for buyers of commercial properties.

https://www.indeed.com/career-advice/careers/what-does-a-mortgage-broker-do

Forbes:

A mortgage broker arranges a home loan for a property buyer by acting as a go-between for them and the lender.

Mortgage brokers are legally required to act in the property buyer’s best interests when suggesting a loan for you.

Part of their responsibility is to explain the different buying terms so that the buyer understands the situation they are considering. They will also set out the types of loans and their respective conditions that are available to the lender in their specific circumstances.

https://www.forbes.com/advisor/au/home-loans/what-does-a-mortgage-broker-do/

Wallstreet Mojo:

A mortgage broker is an intermediary that liaisons the mortgage borrower and mortgage lender. They are responsible for gathering information and completing the documentation process concerning income earned, an asset owned, credit report, employment details, and other information required for assessing the ability of the borrower to secure financing.

https://www.wallstreetmojo.com/mortgage-broker/