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Is it better to go through a mortgage broker or direct to a bank?

Real Estate Agent with MortgageBrokerSantaMonica.com 02003468

Is it better to go through a mortgage broker or direct to a bank?

A mortgage broker is an intermediary between you and the lender. Their job is to find you the best deal. They have a selection of hundreds of different lenders.

A bank can only show you what they have to offer. A mortgage broker can show you what that bank has to offer, as well as all of the other options available to you and your needs. Their knowledge of your specific situation and goals combined with their abundance of resources enables them to find the perfect deal for you.

A mortgage broker’s pre-approval letter can mean the difference between having your offer accepted or losing out to another potential buyer. This is because listing agents are familiar with a bank’s bureaucracy, which causes them to be slower. But, more importantly, the listing agent must protect their client in the event that the loan is not funded by the bank and the seller is forced to relist the property. It would lengthen the property’s days on market, which frequently results in a decrease in the final selling price.

Before going under contract or entering escrow, many listing agents require the prospective buyer to be cross-qualified. A mortgage broker can help you navigate this vetting process with confidence and answer any questions the cross-qualifying lender may have.

To get answers to other frequently asked questions visit our FAQ section: https://mortgagebrokersantamonica.com/#faqs

If you are looking for houses for sale in Beverly Hills or homes for sale in the other Westside, Los Angeles communities visit us at BuyDeluxeHome.com.  For mortgage and financing information visit Mortgage Broker Santa Monica or Mortgage Broker Beverly Hills.

Mortgage Broker Santa Monica is a local company with home loan experts dedicated to helping you find the right mortgage for your needs! We are always open to collaborating with local realtors. Please feel free to contact us. 

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If you are looking for Beverly Hills Houses for Sale or Beverly Hills Homes for Sale visit us at Beverly Hills Houses for Sale. If you are looking for Santa Monica Homes for Sale or Houses for Sale in Santa Monica visit us at Santa Monica Houses For Sale. For mortgage and financing information visit Mortgage Broker Beverly Hills | Mortgage Broker Calabasas | Mortgage Broker Glendale | Mortgage Broker Pasadena | Mortgage Broker Santa Monica | Reverse Mortgage Newport Beach

Useful Links: Beverly Hills Houses for Sale / Beverly Hills Homes for Sale / Houses for Sale in Santa Monica / Santa Monica Houses For Sale / Mortgage Broker Santa Monica / Mortgage Broker Beverly Hills / Real Estate Agent Mar Vista / Beverlywood Real Estate Agent / Homes for Sale in Beverly Hills / Sell My House Fast Glendale / Beverly Hills Real Estate Agent / Cheviot Hills Real Estate Agent / Real Estate Agent Culver City / Real Estate Agent Marina Del Rey / Korean BBQ Koreatown | KBBQ Koreatown / Korean BBQ Koreatown | KBBQ Koreatown Menu / Mortgage Broker Calabasas / Mortgage Broker Glendale / Mortgage Broker Pasadena / Reverse Mortgage Newport Beach / Hancock Park Real Estate Agent / Holmby Hills Real Estate Agent / Manhattan Beach Real Estate Agent / Melrose Realtor / North Hollywood Realtor / Northridge Real Estate Agent / Rancho Palos Verdes Real Estate Agent / Real Estate Agent Hermosa Beach / Real Estate Agent Pasadena / Real Estate Agent Redondo Beach / Real Estate Agent Westlake Village / Real Estate Agent Woodland Hills / Realtor El Segundo / Realtor Santa Monica / Rolling Hills Estates Realtor / San Marino Real Estate Agent / Sunset Strip Realtor / Topanga Realtor / West Hills Realtor / West Hollywood Real Estate Agent / West Los Angeles Realtor / Houses for Sale in Malibu / Malibu Homes for Sale

John Pusa
Glendale, CA

Welcome to the ActiveRain Community. Congratulations on your first post.

Dec 04, 2022 08:30 PM
Marcus Anderson

Thank you, John!

Dec 04, 2022 09:26 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Dec 05, 2022 06:18 AM
Marcus Anderson

Thank you, Joe!

Dec 05, 2022 02:06 PM
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

Marcus Anderson - this is really, really good information for consumers and real estate agents who don't know. Please continue to write blog posts that are educational, easy to understand, and clearly makes sense. I applaud you and thank  you for not making this just a "Members Only," post. I can tell, you are serious about your business and I look forward to reading more blog posts of yours. 

Welcome to ActiveRain!

Dec 05, 2022 08:50 AM
Marcus Anderson

Thank you, Patricia!

Dec 05, 2022 02:07 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Marcus Anderson - I like the information you are providing for consumers and real estate agents who don't know the answer to your question. Welcome to Active Rain and hope to read more posts from you!

Dec 05, 2022 04:55 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

For the purchase of buying a residence to live in , you are better off using a Mortgage Lender . Commercial Banks take longer and add complications !

Dec 29, 2022 07:06 AM
AJ Heidmann ~ CRS
McEnearney Associates, Inc. - Alexandria, VA
YOUR Alexandria & Arlington, VA Real Estate Expert

Marcus ~ 

Welcome into the 'Rain and congratulations on your first blog post.  I have always advised clients to us a mortgage broker for their mortgage, as a bank tends to have more limited options in my experience.

Feb 11, 2023 12:23 PM