Brokers or Bankers?

Brokers or Bankers?

If you are searching for a mortgage nowadays do you need a broker or a banker? And what’s the difference?

Basically a broker represents multiple lenders and can shop around for you but due to the fact that they cannot actually fund the loan only find it that can be a problem. A banker usually funds the loan in-house and can be much easier to deal with. A broker however may have access to more rates & programs.

In the short sale world with so many moving parts a bad lender can kill a deal. I see horrible lenders all the time and I’d have to say that for the most part most of them have been brokers. Not to say that all brokers are bad but the majority of the ones I come across have been terrible!

There are some really good ones out there so if you are shopping for a mortgage from a broker be sure they are well educated in their field, have experience, and have the ability to get the loan done quickly. And send me their name & number if you think your broker is gold as they are definitely a keeper!

If you are shopping for a loan from a banker you will still want to check their credentials and be sure that their rates are competitive. Some bankers offer fantastic rates and can fund loans very quickly!

Either one can help you achieve your dream of owning a home, vacation property, investment, or large real estate portfolio. Just make sure they are the right one for you!

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