The Three Advantages of Using a Mortgage Broker

Speed, Pricing & Service A lot of times I am asked by my customers, "Why don't I just go to the bank directly?"

Pricing: The answer to that question is a discussion of wholesale vs retail prices. When you shop at a store, you are paying retail prices. By definition wholesale prices are lower than retail prices. A mortgage broker has access to wholesale prices of the same bank you are interested in. Also, he or she has the advantage of being able to shop your loan and take advantage of the best pricing in the country. Please see this video http://www.youtube.com/watch?v=WK0z4jzXRTo
The classic analogy is when I am shopping your loan in the middle of winter. If a bank in Ann Arbor Michigan has three feet of snow on their door step most customers won't be able to just jump opn their snow mobile and go get a loan. So what do they do? They broadcast their prices to the rest of the country to a guy like me down here in Florida. I see their rate sheet and say "Wow, they must have three feet of snow right now!" Then I go in and place your loan there and capitalize on the exceptional pricing they are offering to attract business.

Speed: Also when you avoid the slow moving chain of command of a large bank the customer benefits from fewer hands on their file. Every time the file is passed on, there is a delay in explaining unique situations or re-examining certain details. Also there is a greater chance that some detail is miscommunicated and an error will result.

Service: Dealing with myself directly, I am your sole point of contact. There is no re-explaining or calling a long list of possible contacts. Also when I check my list of banks, I always check to see which bank is backed up or which can give me service. I in turn pass this service on to my customers in the form of a smooth and easy process.