Hi, this is Maria Casas Qualifying Broker-Owner from La Belle Mar Realty. Of coarse, when you start looking to buy you have questions, you can call 786-991-7770. There are so many scams and tricks out there that you want to be sure you are on the right path. We are here to help by working with the Real Estate Community since the early 2000's. We have seen a thing or two about what road to take. Read until the end to see the highlights of what may be your path to victory to your New Home. When seeking financing to buy a home, many homeowners work with either a mortgage broker or a mortgage banker. While the terms are often used interchangeably, brokers and bankers play different roles in the mortgage industry.
Here is a quick guide to mortgage bankers to help you learn more:
While they have similar names, mortgage brokers and mortgage bankers have very different jobs. A mortgage broker will assist you in finding a good deal on mortgage loans from multiple lenders. A mortgage banker actually originates and funds the loan.
Unlike banks, mortgage brokers are not financing loans themselves — they simply help you choose a loan that best suits you. A lender uses their cash to provide borrowed money, while the broker provides only assistance from the lender to the borrower.
You need to asses what it is you need in the begining. Do you need to find someone that can show you options or are you looking for one specific banker?
Mortgage bankers usually work for banks in a specific lending department. Their work involves evaluating mortgage applications to determine if a potential borrower meets the financial institution requirements. Some mortgage bankers specialize in a specific type of mortgage, which can be helpful for borrowers with unique circumstances.
Mortgage bankers may also service or sell loans. As a loan servicer, they handle the payment processing aspect of the loan. This can include managing escrow accounts and providing payoff letters.
Some mortgage bankers sell loans to third-party servicers. This gives them a better opportunity to provide loans to additional borrowers, since it frees up their cash on hand.
How do you choose between a mortgage banker and a mortgage broker? There are advantages and disadvantages to both options, and much of the choice comes down to personal preference.
However, understanding the way a mortgage banker works in comparison with how a mortgage broker works will help loan applicants make the best decision for their financial future.
If you are trying to decide and want to speak to a Real Estate Professional on your Real Estate needs, don't hesitate to contact me directly at 786-991-7770 and we can discuss your hopes and dreams on owning your dream home. Don't wait too long as you need to prepare to be on the road to success. Everything in life has to be meticulously planned so that your finances align with your desires.
Call me to go over your Real Estate questions and we can help you get several good options.
Thank you for your confidence and hope to hear from you soon.
Maria Casas ABR®, SFR®, CDPE, CREN, CBDA, C2EX
Qualifying Broker of La Belle Mar Realty.
Cell: 786-991-7770 or Off: 786-953-7807
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