What is the Difference between Mortgage Broker and Banker?

are you thinking of applying for a home loan and are confused on which lender is going to help you get into your dream home are you unsure whether to call your bank use an online lender or call a local broker are you unsure even where to start confused who has the most competitive rates low fees and most of all someone who's going to help walk you through the process we understand how hard this can all be to decipher pretty soon your eyes glaze over and you give up worse yet you go with push button approve I am a second generation mortgage kid I practically grew up writing mortgages meaning I helped thousands of families just like you figure out the road map of home loans and explain the banker broker online lender situation and here's the deal banks are just that a bank that specializes in money and bank accounts but they have a mortgage division and they have beautiful buildings shiny furnishings and are filled with staff beautiful buildings means a lot of overhead which normally equates to higher rates and higher fees for the buyer their staff Works 9 to5 Monday through Friday yet most contracts are actually written after 5 and on the weekends do you know any banks that answer their phones on Sundays or at 8:00 p.m. most important when you work with a bank you're working with only loan programs that that bank has and if you don't fit into those products at their Bank no Loan online lenders seem to be just the opposite right fast easy no pesky calls no documents no long loan applications and they seem to have really low rights best thing ever push button you're approved easy peasy right well I'm here to tell you it may not be quite as sexy as it sounds often these approvals are not real approvals I mean after 30 years in the business I'm telling you the way we calculate your income is a little bit different than maybe you calculate your income for example bonus income we have to see it for 2 years and you might need to see it now this year too it all has to be averaged so what you think you get as a bonus and what I think you get as a bonus might be different and that all affects your actual loan approval and those super low rates that you see sometimes those might be teasers so you need to really be careful and read the fine print worse yet what if you have a question who's going to answer it there isn't even an intelligent person behind that push button approval screen would you trust just push button approval with the biggest purchase of your life so the biggest complaint that most home buyers have in the whole mortgage loan approval process is lack of communication and lack of understanding you don't want to be a statistic listen local Brokers we specialize in mortgages we work with hundreds of lenders this means we're going to find you the best rate the best program and the best situation for you and get you the best loan out there and we're going to explain everything and walk you through the process most important most of us all have similar rates and comparing rates is okay but if somebody's offering you a super low rate you need to ask why and if it sounds too good to to be true it might be too good to be true and loest isn't always the best I mean would you let the cheapest back surgeon do your surgery I don't know think about it and always read the fine print now if this sounds like maybe something you would like more information on or you want to apply just for a free pre-approval and get a plan on how to get into your new home loan and get a house please give us a hauler today slam tunk mortgage team Making Home Loans a slam do [Music]