1. Only have that specific banks loan programs to work with. Many times they have to fit the program to the client, not the client to the program
2. Each "bank" you go to will want to pull your credit.
3. You most likely won't have access to the best loan program for your personal scenario.
4. The individual bank may tell you that you only qualify for a maximum Loan-to-Value which is less than you want or need.
5. They may not give you the undivided attention you deserve because they have numerous clients walking in the front door needing financing for various reasons or need additional banking services.
6. They are usually not available at night or on the weekends when most buyers are out looking for homes or have freedom to meet with a realtor or mortgage professional. They work the typical 9-5 schedule Monday through Friday.
7. Rarely are they individually licensed, they basically learn what the bank teaches them about the mortgage business, which can be short-sighted.
8. Most loan Officers at banks get paid a salary plus commission. Soooo, if your loan doesn't close, they still get paid their salary.

1. Most Mortgage Brokers are set up with 100 or more Banks / Lenders to shop your loan with. Many of these lenders are the same "local" banks which you may have gone to previously, but we are able to get you lower rates because our rates are wholesale, not retail.
2. We only need to pull your credit once to shop your scenario to various lenders / banks.
3. We have more mortgage financing programs than we can count. This allows us to fit the right loan program to your needs. This will provide you with a lower interest rate and better terms.
4. Mortgage Brokers are required to disclose every penny that we will make by providing you with financing, the banks do not, so you have no way of knowing how much profit you are paying them.
5. Most Mortgage Brokers are available 7 days a week, nights and weekends. I doubt you will hear a Mortgage Broker say, "Oh, can you come in on another day, I'm off on Saturday".
6. Mortgage Brokers ONLY get paid if the loan closes. For us ..... No closing = No Income. We will work harder to insure your loan closes. We have much to lose if it doesn't.
7. Mortgage Brokers have ONE job .... to do Mortgage Financing, we do not spend time financing cars, boats, taking credit card applications.
8. If a Mortgage Broker does something un-ethical or commits fraud .... We will lose our license and will not be able to work in this business again. If a Loan Officer does the same thing, they get fired and then go down the street and work for a different bank (No regulation).

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