What is the difference between a mortgage bank and a mortgage broker? Which one is best to use?

• Direct lenders (banks and mortgage companies): Financial institutions that originate, process, and fund the loans themselves. In other words, the company handling your loan process is the one lending the money. Direct lenders include big banks (like Wells Fargo), credit unions, and mortgage companies that offer a wide range of banking services.

• Mortgage brokers: A broker is a middleman that helps match you with the best mortgage lender for your needs. Brokers work with multiple wholesale mortgage companies, so they can act as a single point person to help you compare multiple loan options and often times have a much wider variety of loans that better suit the customers financial situation.

We are a mortgage broker. We have agreements with dozens of different banks and operate through a wholesale channel. Using a mortgage broker nearly always saves the consumer money by lowering the cost of the loan. Since we don’t have to pay hefty office space rent, utilities and multiple employees doing the same job we do, we can simply lower the cost to you “the customer”.

We offer flexible loan terms, debt consolidation, investment financing, hard money and construction loans, commercial and multifamily financing as well. Contact us for a FREE, confidential evaluation.