While your bank can only approve you for their mortgage product with their associated rates, a mortgage agent can compare and shop amongst multiple lenders to find the best rate and option available for you!
A mortgage agent provides an independent and unbiased opinion as we represent you, not an institution. With availability outside of business hours, we’re one main point of contact whose available for you when you need. We help all types of clients with all types of credit, especially the ones who’ve been declined by their bank. We’re required licensed professionals with in-depth knowledge regarding all types of mortgages. Although some bank specialists have mortgage training, most of them don’t hold mortgage licenses and aren’t legally required to do so.
One of the biggest misconceptions when starting the mortgage process is misunderstanding your bank mortgage specialist works for the bank, not for you. Both the banker and the bank will receive profitable earnings when you set up your mortgage with them. This gives them incentive to push their product on you, even if it’s not the best on the market; whereas, a mortgage agent will search for the best product available without the bias of representing an institution. We are paid through commission from the lender chosen, similar to that of a bank mortgage specialist receiving commission; however, we or our company never receive any of the hundreds of thousands of dollars in interest payments that the bank receives over the course of your mortgage. The main takeaway is the bank makes 100X more profit off the interest of your mortgage than any commission a specialist would ever receive.
If you really think your bank has your best interest at heart, let’s connect today to see if they’re offering you what’s best on the market. 🏡
A FREE second opinion, what do you have to lose? Let’s chat today ✨
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