Broker vs. Banker: How to Decide
Broker vs. Banker: How to Decide Finance & Investment,Real Estate,Home Repair When shopping for a home loan, there are many different aspects to consider. One primary option to consider is whether you use a mortgage broker or a mortgage banker. At the end of the day, both a mortgage broker and banker can help you obtain a home loan. There are however differences between the two that may sway your decision on which one you choose. Let’s begin by discussing a mortgage banker. Mortgage bankers work directly for a financial institution, namely a bank. As such, the institution that a mortgage banker works for will be the source of the money that you take out as a loan. When meeting with a mortgage banker, they take all of the potential borrower’s financial information into consideration. Financial information includes an evaluation of the property and borrower’s ability to pay back the Salt Lake City home loan. With all of that information gathered, a mortgage broker then advises bor