Do I Use A Mortgage Broker or Bank?

What is the difference between a Mortgage Broker and a Bank?
Why do so many choose to get a loan from a Mortgage Broker over of a Bank?

The answer to those questions is this – Rates and fees are important. So is speed and approval flexibility. It is without argument that the mortgage with the best experience and cost efficnency is obtained through a Mortgage Broker.

Here is why:

1. Easier loan process

Getting a Mortgage can be frustrating. Fortunately, working with a Broker makes your life easier. Because we work with a lot of different lenders, we find which comapny would be the simplest solutions for you. Some of the things we evaluate on your behalf are things like which lender has the most flexible underwritting, most efficient processes, and quickest turn times. As a result, when working with a Mortgage Broker you will get a loan done quickly with minimal hoops to jump through.
A Bank’s process “is what it is”, and they are stuck with it.¬†

2. More loan options

Sometimes you have to work for a loan approve. As a Broker, we do the work for you! Brokers have the legal ability to send your loan to various different sources. As a result, you have a better chance of getting your loan approved. Some lenders may have a strict process that prevents you from being approved. No problem for Brokers! We simply choose to send your loan to a place that has a more accepting environment for your situation. Moreover, we use our options as leverage to create more favorable opinions. The people at the lender who make the approval decisions often give us more options. Why?  They rely on us to send them future business. The reality of our options works in your foavor during your loan approval process.
A Bank is stuck with one option, and no leverage.

3. Lowest rates and fees possible

It’s no secret that every lender or bank offers different rates and fees. As previously mentioned, Brokers partner with many lending solutions. We scour the earth for the best rates possible. This creates a competitive environment for you! Lenders that work with us are forced to offer low rates to earn business. They know we are comparing their rates and fees against many other prior to presenting options to you.
Banks only have one set of rates and fees to offer.

Here is something special!

Stewardship Mortgage was recently awarded the Mortgage Broker of the Year! If you are seeking the lowest rate and best loan experience on your mortgage – we would be honored to provide it for you.

Schedule time to hang out with us today!


Mortgage Broker of the Year

The author of this article is Grant Botma.
To learn more about the Stewardship story check out this page.

I am a Christian, husband, dad, business owner, loan originator, insurance agent, sports enthusiast, big Cubs fan, servant, and more. I am a native of Arizona that grew up on a dairy farm in Buckeye. I attended Arizona Christian University majoring in Business Administration and Christian Ministries.

NMLS #161533

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