Mortgage Brokers: 5 Types of Homebuyers and How to Serve Them

Mortgage brokers work with people from all walks of life who have different needs and wants.

Below are 5 types of homebuyers that mortgage brokers are likely to encounter and tips on how to assist them: 

First-time homebuyers

First-time homebuyers often have a lot of questions and may not be familiar with the homebuying process. Mortgage brokers can assist by providing information and resources to help them understand the process so they can make informed decisions.

Homebuyers with poor credit

Homebuyers with poor credit may have difficulty qualifying for a mortgage. Mortgage brokers can assist by working with lenders who specialize in borrowers with poor credit. These lenders often have  more flexible debt-to-income requirements and may ask for lower down payments, making it easier to qualify for a loan.

Homebuyers with limited income

Homebuyers with limited income may have difficulty qualifying for a mortgage. Mortgage brokers can assist by working with lenders who have more flexible lending guidelines. Also, they can help by referring borrowers to down payment assistance programs where available.

Homebuyers who are self-employed

Traditionally, borrowers who apply for conventional loans must submit W-2 or income tax returns. But self-employed people often are unable to provide that information. Mortgage brokers can help by working with Non-QM lenders who specialize in offering mortgages to the self-employed.

Homebuyers who are looking for an investment property

Homebuyers who are looking for an investment property may have different needs than those who are buying a primary residence. Mortgage brokers can assist investors by working with conventional or Non-QM lenders to find loan programs that are specific to their needs.

At A&D Mortgage, we offer a full range of loan programs for all kinds of homebuyers, especially investors and the self-employed. From conventional to Non-QM loans, we are able to fulfill the needs of your borrowers – efficiently, effectively and profitably.

Become a Partner today to find out how we help borrowers achieve the dream of homeownership.