Mortgage Broker vs Mortgage Lender

Mortgage Lender vs Mortgage Broker

When you’re shopping for a mortgage, you have two options – a mortgage lender or a mortgage broker. While the end result is the same for both – “financing your home purchase or refinance”, the similarities end there.  You’ll get much more personalized service, greater options, and save more money using a mortgage broker than a mortgage lender, and here’s why.

Hands-On Service

Mortgage lenders or banks treat their clients like a number. You are just one in a sea of thousands of others coming through the door asking for financing. The mortgage lenders do not offer personalized service. The loan officer works in the best interest of the mortgage lending/bank – not yours’.  They look to see if you fit their strict requirements, if you do not, they move onto the next applicant, leaving you in the dust.

Mortgage brokers, like Unlimited Mortgage Lending, on the other hand, work with hundreds of lenders, giving you many options. The mortgage broker works in your best interest.  A mortgage broker like Unlimited Mortgage lending, works tirelessly to match you with a loan program whether you have good credit or bad credit, large down payment or small – they’ll find a program to match your needs. Here at Unlimited Mortgage Lending, we even offer our exclusive self-service Pre-Qualifying calculator to help you understand what you can afford.

Greater Accessibility

Life is busy and often doesn’t fit within the typical ‘mortgage lenders’ hours. When you’re finally ready to sit down and focus on your mortgage application or ask the loan officer questions, mortgage lenders and banks may be closed.

Mortgage brokers have much longer hours. We are dedicated to serving you and your needs.  We make ourselves accessible when you need us, not just during the typical 9 to 5 business hours. At Unlimited Mortgage Lending we are available weeknights to 9 pm even on weekends to 6 pm. If you need help early in the morning or later at night, we work when it’s convenient for you, to get you the financing you need.

Mortgage Brokers Listen to your Needs

With a mortgage lender, you must fit the ‘mold.’ If you don’t fit into their loan programs perfectly, they decline your application and you’re back to square one. If you want another chance, you have to go through the complete application process all over again with another lender or bank.

When you use a mortgage broker, you complete the application once but have options with hundreds of lenders. At Unlimited Mortgage Lending, we sit down and listen to your needs. Do you want an adjustable-rate loan? Do you want a 30 year or a 20-year mortgage?  Would you prefer a loan with interest-only payments or low-down payment requirements? You can check out our First-time homebuyer Step by Step Loan Process to prepare yourself for a mortgage, or we can sit down with you and explain everything line by line.

Your dedicated loan officer at Unlimited Mortgage Lending will ask distinctive questions so we can understand your situation. With the added information the correct path can be formulated that would fit you into a loan that not only fits your financial situation now but, in the future, too. Here is an example; if something event (i.e., baby) occurs and the family income goes from a 2 income down to a 1 income, focus will be put on a program that suits your lower income rather than over-qualifying you and causing financial strain in the future.

Mortgage Lender vs Mortgage Broker – Choose the Option that Helps you get a Loan

Even if you have perfect credit, a 20% down payment, and only a few debts, a mortgage lender has limited options that may not suit your financial needs.

Mortgage Lender vs Mortgage Broker Unlimited Mortgage LendingWork with a mortgage broker, Unlimited Mortgage Lending, who listens to your needs and is available when you need them.  Unlimited Mortgage Lending offers the services you need just check out the reviews [make a page of all reviews and put hyperlink here ie GMB & FB reviews] from other people that have used them. You’ll come out with a more affordable loan that suits your financial picture over the term of the loan, and not just today.

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Check if you Qualify for a Loan

Before you start shopping for a home, you need to know exactly how much you can actually qualify for.

Answer 6 simple questions to make sure that you meet the simple basic requirements to qualify for a mortgage.  Once in our “Exclusive Pre-Qualifying Mortgage Calculator,”  all you have to do is plug in your numbers to see if you qualify.  This calculator is based on the income, debt, and purchase price that you enter and will show you if you qualify or not for a Conventional Mortgage Loan or an FHA (Federal Housing Administration) Mortgage Loan.

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