Mortgage Broker vs. Bank: Which Is Better for Buying a Home?
Posted by The Cobb Group on
When you’re looking for a mortgage, to either buy a home or refinance one, you can use a mortgage broker or deal directly with the bank.
Using a broker to get a home loan instead of going directly through a bank loan officer or other mortgage lender has its pros and cons. Depending on your needs and situation, you'll have to decide which is right for you.
Going it alone
If you go it alone, you deal with the bank directly. If you're a regular customer and have a great relationship with your local bank or community bank, for example, you might receive better terms and interest rates. A local mortgage lender may work with you, especially if you already have accounts with the financial institution.
If you don't have a good working…
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