mortgage_broker_vs

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At Focus we don't have junk fees and we don't play games. We guarantee our pricing and stand
behind our commitment to provide the best home loan financing services available.

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There are several advantages to choosing a Mortgage Broker for your real estate
financing needs rather than a local bank. One advantage is expertise.
Mortgage brokers are professionals who specialize in one area of the banking / lending
industry, real estate financing. Brokers have access to more lenders, more loan programs,
different types of loans, and specialty “niche” products than a local bank. In most cases
your local bank is probably a large regional or national bank with many branches. They
offer their programs at their rates. They don't shop around for the best rates in the market
place. Have you ever called a bank to get service with your checking account? Consumers
may think their bank will give them the best deal because they are a long time customer.
But your options are limited with the Big Banks.

To your mortgage broker you are more than just a number, customer service is important to any mortgage broker. You generally
only deal with one person who will help you through the process. Maybe the biggest advantage and least recognized by consumers
is that mortgage brokers deal in wholesale rates, while your bank deals in retail rates. Not only can mortgage brokers “shop” your
scenario around for you but they are doing it in the wholesale side of the industry.
Banks offer their programs at their rates. While Brokers are able to shop many lenders at their wholesale rates. Even if you intend
to shop for a mortgage on your own, you should always compare what mortgage brokers have access to.

Wholesale rate is the rate banks offer through mortgage brokers. The interest rate and points obtained through the use of a broker
is often lower than one would get by going to a bank directly. Since brokers do most of the loan processing and pick up all the
marketing costs, banks reason that they can afford to offer a lower rate as a way of passing to brokers what they save on overhead
costs and advertisement expenses. The corner bank does not have to 'compete' when you walk through their door. At a wholesale
level banks need to compete against other banks, thus they offer much better pricing, rates and terms. These wholesale rates are
only available through a wholesale broker such as FOCUS Home Loan Solutions.

Brokers have access to programs and pricing for special situations often not offered from banks. Brokers have many more options
for FHA loans, clients with lower FICO scores, high debt to income rations and others

Shopping for the best loan available will save you thousands in interest over the life of your loan. Building a relationship with a
trusted mortgage broker is one of the wisest things you can do. A good mortgage broker is there for their clients even when they
just have questions about what's going on in the real estate market. A good broker makes himself available to bounce loan
scenarios and investing ideas off of. He keeps his clients a breast of the market and new products that may benefit his clients and
their financial position. We're here when the signing is over and your loan is closed. Try calling your big banks large internet lender
when you just want to talk about what's going on in the market and what it means to you. We encourage you to shop around.
Become an educated consumer. Understand that no one works for free and you wont be taken in by marketing gimmicks. Learn the
difference between customary fees and necessary fees. Customary is often a nice term for Junk Fees.

Mortgage Broker vs. Big Banks

Refinancing?
The Real Costs
& The Rip Offs
What You Don't Know
Will Cost You!

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