Frequently Asked Questions | Boardwalk Lending

Frequently Asked Questions

Why should I use a broker instead of a banker?

The reason that a broker is almost always a better option for a consumer rather than a banker when it comes to your mortgage, is that brokers have access to every investor in the market place to start with and even better, they have access to wholesale direct pricing. One other major benefit is that by law, a broker’s margins are dramatically thinner than that of almost all bankers. That directly impacts your cost of financing.

How long will it take Boardwalk to close my loan?

We are streamlined with a high level of efficiency and we can typically easily get you closed in 30 days or less. Sometimes on the much sooner side but it all depends on the complexity of the file and moving parts with the loan.

What type of education do your loan advisors have?

Our originators are fully licensed by both the Federal and State authorities, which mandate continuing education requirements along with background and credit standards on an annual basis. Furthermore, here at Boardwalk, we pride ourselves on a continually revolving education process for all of our advisors, regardless of experience. We educate our advisors on products, guidelines, and especially all the moving parts of the financial markets that drive rates and pricing all the time. This ensures that when working with Boardwalk Lending, you are dealing with the most sophisticated, knowledgeable and educated loan advisors anywhere to make sure you are getting the best possible deal you can obtain. Most other banks and lenders attempt to drive all clients into a funnel of a few standard products. Not here.

Is Boardwalk Lending going to sell my loan?

Yes, as is every single lender in the marketplace. A common misconception that many banks try to portray is that they will not sell your loan. That is a blatant lie. No lender can guarantee with any certainty that your loan will not be sold. Mortgages are packaged and securitized as investments and bought and sold on the secondary market constantly. What that means for you is really nothing other than the name of the bank you pay each month. The contractual terms of your loan are always guaranteed by the Federal Agency that is backing the paper. You are safe regardless so working with a big bank does not in any way give you any more safety financially.

How long has Boardwalk Lending been in business?

We’ve been in business and brokering loans for over 12 years and our staff’s years of experience in the industry far exceed that. We have an A+ rating with the BBB and an impeccable track record when it comes to customer satisfaction. Our #1 goal is to make our clients happy and get the best deal possible.

Does Boardwalk do Government financing?

Absolutely! We do VA, FHA, Conventional, USDA, Jumbo and Portfolio financing. If there is any way to get a deal done legitimately, we can do it!