Why choose a Mortgage Broker instead of a bank or direct mortgage lender?
Mortgage brokers have a similar role to insurance brokers. They don’t work with one company. Instead, they work with a wide range of wholesale lenders. This means Brokers can shop around to offer you more customized loan products and also more competitive pricing.
Banks and non-bank direct lenders rely on their own money to fund their mortgages. Typically, this means fewer loan products may be available and pricing is less competitive.
Mortgage brokers can access competitive wholesale rates from multiple lenders, passing the savings directly on to borrowers.
Mortgage brokers will shop a variety of products offered by lender partners to find the right fit for borrowers’ mortgage needs.
Because they are local and a part of the community, brokers establish strong relationships with their clients as trusted partners in the home buying experience.