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Mortgage Broker Or Directly To The Bank? Which Is Better?


Tam Rep Points: 190
Posted on April 1, 2009 at 9:27 pm
I just recently got married and is seriously considering buying our first home with my husband. I've heard relatives who got mortgage brokers that they were better off going directly to the bank. What do you think?

mkinara Rep Points: 115
Posted on April 3, 2009 at 10:16 am
The mortgage broker works for you and earn a % from your loan. The mortgage broker usually deals with many mortgage lender thus can offer you a favorable rate and term. People find that mortgage broker is more flexible than the bank.Real estate agent also have a mortgage broker that they recommend you to, that agent usually knows all the documents and follow with the bank to get your loan thru so they can earn the %