Your Best Friend in The
Mortgage Industry

It’s crucial to work with a broker who stays informed and educated on the latest industry developments to ensure that they can provide you with the most accurate and up-to-date information. 

When evaluating a broker’s industry knowledge, you can ask them the following questions: 

• How do they stay informed about industry changes? For example, do they regularly read industry publications, attend conferences, or participate in continuing education courses?
• Are they members of any professional body?
• Ask if they have experience with the new mortgage guidelines and rules after the pandemic.

A mortgage broker who stays current with changes in the industry will be better equipped to help you navigate the mortgage process and find the best loan options for your situation. 

They can also advise you on how industry changes may affect your mortgage application or refinance. 

We here At Great American Funding Corporation have 4 decades of experience, Yearly mandatory Mortgage Classes and have closed Lifetime $1.127 Billion in loans. 

Asking a mortgage broker for references from past clients is a great way to evaluate their level of service and determine if they are the right fit for you. 

Past clients can provide valuable insight into the broker’s level of expertise, communication skills, and overall customer service. 

When you contact the references, ask them about their experience with the broker. 

Find out if they felt well-informed throughout the process, if the mortgage broker was responsive to their needs, and if they were happy with the loan’s outcome. 

You can also ask them if they had any challenges during the process and how the mortgage broker helped them overcome them. View our testimonials here.

A Mortgage Broker works for you, not the bank. 

• ✅ Access to More Options: We shop multiple lenders, not just one bank, to find the best rate and loan for your unique situation.
• ✅ We Do the Heavy Lifting: From gathering paperwork to dealing with underwriters, we guide you step-by-step through the process—saving you time, stress, and costly mistakes.
• ✅ We Work for Free: The lender pays us, not you! So you get personalized service and expert guidance at no additional cost.
• ✅ Solutions When Banks Say No: If you’re self-employed, have income that’s hard to document, or need a unique loan structure, we find creative solutions where traditional banks can’t.

In short: We are your advocate—finding you the right loan, handling the details, and getting it closed smoothly. 

Using a Mortgage Broker can make a big difference in your home loan experience. Here's why: 

A Mortgage Broker acts as your personal loan advisor. We work for you, not the bank. Our job is to understand your unique financial situation, compare loan options from many different lenders, and help you choose the one that fits you best — whether you're buying, refinancing, or investing. 

The best part? The bank pays us — not you!
We're compensated by the lender only when your loan closes, so there's no added cost to you. In fact, we often get better rates and terms than you'd find walking into a bank yourself. 

And because we do this every day, we guide you step-by-step through the process, taking care of the paperwork, deadlines, and lender requirements. We simplify the process, save you time, and remove the stress of dealing with banks directly. 

In short:
✅ We shop around for the best deal
✅ We do the heavy lifting and handle all the details
✅ You get expert advice at no cost to you 

That’s the power of working with a Mortgage Broker. 

1. Often No Direct Cost to You:
In most cases, you don’t pay the mortgage broker directly. Instead, they’re paid by the lender (the bank or financial institution that funds your loan) once your loan closes.

This is called a lender-paid compensation

2. Sometimes Borrower-Paid Compensation:
In some cases (especially with unique loans), the borrower may pay the broker directly. This is called borrower-paid compensation, and it’s usually disclosed upfront as part of the Loan Estimate (LE).

✅ By law, a broker can’t be paid by both you and the lender—it’s one or the other, never both.

3. No Upfront Fees for Quotes or Pre-Approvals:
You can typically talk to a mortgage broker, get advice, and shop for rates without any upfront fees. They only get paid if your loan funds.

Bottom Line:

• ✅ Most of the time, you pay nothing out of pocket to use a mortgage broker.
• ✅ They are paid by the lender for bringing in your business.
• ✅ You benefit from multiple loan options, personalized guidance, and faster service—without added cost.

Hi Potential Borrower,

Great news—using a mortgage broker typically costs you nothing out of pocket. Here’s how it works:

• We’re paid by the lender, not by you. Once your loan closes, the lender compensates us for bringing them a qualified borrower and doing the detailed work to get the loan approved.
• You get access to multiple lenders and loan programs, not just one bank's option. This often means better rates, more flexibility, and a smoother experience.
• No hidden fees — we’re fully transparent, and all compensation is disclosed upfront in your Loan Estimate.

Our job is to guide you through the process, handle all the details, and help you secure the best financing for your situation—all without adding to your costs.

Let me know when you’re ready to take the next step—I’m here to help every step of the way.

Best regards,
Steven Marche
Mortgage Broker – Great American Funding Corp. est. 1982
805-374-6000

Mortgage Brokers (Best for Personalized Guidance)

• Pros: Shop multiple lenders for you, help with paperwork, guide you through the process.
• Cons: None
• Best for: Self-employed borrowers, investors, or anyone who wants someone to do the heavy lifting.

✅Tip: A good mortgage broker works for you, not the bank. They often get you better rates because they know which lenders fit your situation.

The easiest mortgage loan to get often depends on your financial situation (credit score, income, assets, employment history), but in general, the following types of loans are considered the easiest to qualify for: 

✅ 1. FHA Loan (Federal Housing Administration)

Best for: First-time buyers, lower credit scores, low down payments

• Credit Score: As low as 580 (or even 500 with a higher down payment)
• Down Payment: As low as 3.5%
• Flexible guidelines: Accepts higher debt-to-income (DTI) ratios
• Easier qualification: Ideal for borrowers who don’t qualify for conventional loans

✅ 2. VA Loan (Veterans Affairs)

Best for: Active duty military, veterans, and eligible surviving spouses

• Credit Score: Flexible (often 580+)
• Down Payment: $0 required
• No PMI (Private Mortgage Insurance)
• Low rates & fees

🛑 You must meet military service requirements  DD216 form 

✅ 3. Bank Statement or Non-QM Loans

Best for: Self-employed or people who don't show income traditionally

• No tax returns needed
• Qualify using 12–24 months of bank statements
• Higher interest rates
• Easier for business owners, freelancers, or real estate investors

✅ 4. Private Money or Hard Money Loans

• No Tax Returns
• Stated Income
• Credit not as important as conventional loans
• Easier for Self employed and Business Owners
• Quick closings!