Using A Mortgage Broker Vs A Bank

Choosing Between Them

As banks and brokers are both beneficial to buyers, choosing between them is personal. There is not a right answer or a wrong answer when a person is asking whether to use a bank or a broker. It depends on the type of loan a buyer is looking for, what they can afford, what their credit situation looks like, and the relationship the banker and buyer have with one another.

The simple truth is every buyer has a different experience working with a bank and a broker. Some have wonderful experiences with one or the other or both, and others struggle to find any positives in the entire situation. When choosing who to work with, buyers should consider the total cost. Which is more affordable, and would the buyer prefer to spend a little more money on a broker to save a lot more time finding the best loan? Perspective is important when looking for the right mortgage, and every buyer is different.