Home Buying in 89158>Question Details

Rachael, Renter in Honolulu, HI

why use a mortgage broker?

Asked by Rachael, Honolulu, HI Fri Sep 20, 2013

Help the community by answering this question:


In today's lending environment, you should be working with a lender that can underwrite their own loans, utilizing ALL of the programs that are in the market today. A mortgage banker generally funds multiple investor sources, allowing the flexibility of many different program parameters and gives YOU as the consumer more options than just working with a bank. Also, we work on a wholesale level so your pricing is much better than if you go into a retail branch. City First Mortgage Services is all of these things and more, funding A paper FNMA / FHLMC, Government FHA / VA / USDA, Alt - A through C- products that can go down to a 500 FICO score (Lower on case by case basis) , and even loans that don't even require tax returns. Please feel free to call and get pre approved today, or click the link below to fill out your own online application. I look forward to hearing from you and showing you EXACTLY why working with a mortgage banker is the right choice for you.

Check me out on the National Real Estate Post!!! And get your pre approval today!!!

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Sr. Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes Thank Flag Link Tue Sep 24, 2013
I am in the lending side and have been for 20 years. I have worked for the bank, and broker as well as Mortgage Banker which is the type of company I currently work with. The broker gets your more access to programs but with todays regulations makes it a little tougher. I left the last company which was a broker to come here because of how much flexibility there was. Right now the mortgage bankers have a true blend of flexibility of bank and the broker.
If you have any questions dont hesitate to contact me.

Michael R Diaz 380048
0 votes Thank Flag Link Mon Sep 23, 2013
I found that the rates are not too far off from the Broker and Banker. I found that the broker has more flexibility and options. In either case you still have to pass the underwriters. I have close just as many deals successfully with both.

I hope this helps.

Search http://www.Las-Vegas-Real-Estate-Home.com


Phil Scheinman, ABR, GRI, E-PRO
Broker * Sales Agent * Realtor
Realty One
2831 St. Rose ParkwaySte. 100
Las Vegas, NV 89074
Direct: 702-580-9198
Fax: 702-405-7659

0 votes Thank Flag Link Sat Sep 21, 2013
A mortgage broker is like an insurance broker if that helps. To be more specific, they basically gather your information and then shop around for you with different banks to find you the best options. They basically do the footwork for you, rather than you having to go to different banks yourself to find the best loan option, they do it for you. Feel free to contact me if you have any other questions, I can recommend a broker in Las Vegas and I can also tell you which banks are offering the best rates for the type of loan you need.

Valentina Swingle
Realty One Group
10750 W. Charleston Blvd. Ste. 180
Cell. 702 202 9707
E-mail. swingleestates@gmail.com
0 votes Thank Flag Link Fri Sep 20, 2013
A mortgage broker will offer more choices than a bank. If you apply to Wells Fargo, they can only make a loan (or not) with Wells Fargo. If you apply to a mortgage broker, they can make with loans with many companies. Sometimes a person is turned down at one bank and approved at another. All banks and financial institutions have different overlays for what they can approve. Some can approve low scores, some can approve people with investment only income. They just shop it around and find a company that can approve the client.
0 votes Thank Flag Link Fri Sep 20, 2013
I very much concur.

Mortgage bankers usually have a fixed number of programs that they can offer a client. Mortgage bankers can shop around and think "outside of the box" a bit more to get lower rates or find that special program for someone who has a unique situation that doesn't follow conventional guidelines.

That being said, every once in a while a mortgage bank might run a "special" that beats everything else on the market. So as agents we need to promote good relationships with both types of lenders to make sure we can find the best deals for our clients.

Does that help?

Diann Tonnesen
Prudential Americana Group Realtors

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
0 votes Thank Flag Link Fri Sep 20, 2013
I meant to say mortgage BROKERS can shop it around.
Flag Fri Sep 20, 2013
Mortgage brokers are great because they can shop you around to many different lenders and help find you a better rate. They have a lot more options than banks. Just my opinion.
0 votes Thank Flag Link Fri Sep 20, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer