Mortgage Broker vs Mortgage Lender
A Mortgage Broker does only one thing and that is to shop for the best deal possible on mortgages. Meet your local licensed mortgage broker. He’s not a big corporation or a bank. A Mortgage Broker cannot do car loans, trade stocks, or offer checking and savings accounts. A Mortgage Lender is a big corporation and offers many other products car loans, trade stocks, or offer checking and savings accounts.
The salespeople at banks and big lenders can’t show you the big picture. But a mortgage broker compares deals from hundreds of banks and lenders of all sizes across the US then organizes and presents those choices based on your location, financial situation, timeline, and other factors. A mortgage lender cannot offer other lender rates or products like the “Down Payment Assistance Program”. The Mortgage Broker can help you choose the best mortgage for your circumstances including products that most mortgage lenders do not offer like the “Down Payment Assistance Program”.
A smart fit mortgage can save you time, frustration, and most importantly, even $100s or more of your monthly payment. So, when it comes to the biggest purchase of your life, don’t take the first offer that comes along. Get an expert who shops on your behalf. Get a Mortgage Broker.