Mortgage Broker Or Your Bank?
August 21, 2016 | Posted by: Tania Kalinich
Here is an assessment of mortgage broker vs. your bank.
- A bank has several financial products. Mortgage brokers generally specialize in home loans. The loan officer at a bank or even your relationship manager will be involved in all kinds of financial products or loans. That may divert their attention and time spent on you.
- When you consult your bank, you have only one choice. Even if you were to consult a few financial institutions or mortgage lenders, you would have a handful of options. With mortgage brokers you would have numerous choices. Mortgage brokers have a vast network of providers and thus getting the best rate and the most favorable returns becomes easy.
- Mortgage brokers like myself dedicate our time and resources for every Vancouver home buyer. We work one on one, understand the needs and the profile of a home buyer, make apt recommendations and then they head out to all lenders in their network to get the best home loan. The local Pitt Meadows mortgage broker would assist you till the time the home loan is disbursed and you can also get tips in the future. Try getting all these services from a bank and you would be disappointed.
- Mortgage brokers would do all the research and the running around for you. They would find and recommend the best rates, they would guide you to assess the various propositions and they can even get you home loans that are not within the traditional ambit of banks.
- At a bank, you would have to deal with various departments or at least a few officers, not all of whom would be equally helpful or forthcoming. They may even contradict one another. You would not only have a dearth of dedication to your cause but you may not get any substantial help at all.
Banks are infamous for turning down loan requests without substantial explanation or help. Mortgage brokers would not just get your loan approved but would also help you with your financial profile or application so your loan can get approved if the chances are slim.
On any given day and for any Pitt Meadows home buyer, a local, trusted Pitt Meadows mortgage broker is a much better proposition than a bank.