Mortgage Broker vs. Mortgage Banker

Mortgage Broker vs. Mortgage Banker, which is the better option for you?

Unlike a mortgage banker, a mortgage broker such as Marquee Mortgage, LLC does not loan money directly. Instead, they work directly with borrowers, assisting them in finding the most appropriate mortgage loan for their specific circumstances. Working with numerous wholesale lenders who compete for broker business provides a mortgage broker with access to a wide variety of rates, and loan products. This advantage becomes more important in a rising rate environment.

A mortgage banker is a direct lender. This means that they underwrite and fund mortgage loans with their own money. As a result the programs and rates that they have access to are their own. They can’t shop for the best rate. Mortgage bankers can be captive to their own offerings and in some cases do not have the ability to truly find the best deal for the borrower. Click on the info graphic below for just a few of the many ways that working with a mortgage broker may benefit you or your buyers.

A mortgage banker is a direct lender. This means that they underwrite and fund mortgage loans with their own money. As a result the programs and rates that they have access to are their own. They can’t shop for the best rate. Mortgage bankers can be captive to their own offerings and in some cases do not have the ability to truly find the best deal for the borrower. Click on the info graphic below for just a few of the many ways that working with a mortgage broker may benefit you or your buyers.

AZ MB#: 0909566