Home buyers often find themselves in the predicament of whether to select a bank or a mortgage broker for their home loan needs. While there are pros and cons to both, we think the positives of working with a mortgage broker outweigh the perks that a bank can offer –– which is one reason why we’ve made a business out of finding the best mortgage loans in the greater Savannah area.
Mortgage brokers have one primary focus: Finding the best home loan for your unique circumstances. Because there’s one goal in mind, mortgage brokers are the experts when it comes to home loans – they know all the details, trends and deals of the mortgage market.
Bankers have a variety of focuses at work which often includes up-selling services that you might not want, like a savings account or a new promotion. When you choose a mortgage broker, you can rest easy knowing that you’re working with a mortgage market expert who has no ulterior motives.
At first glance, it might make sense to go through your bank for a mortgage loan, especially if you already have a good relationship with them. But what many people don’t know is that banks can only offer their own loans, whereas mortgage brokers have access to shopping the entire mortgage market for you.
Unlike banks, mortgage brokers can provide details on various loans and lenders, and they often have the ability to negotiate lower interest rates and compare deals. Banks, on the other hand, can only offer loans from within the company – they’re restricted by regulations and company policies. If you work with a bank, you won’t get all the information on the entire mortgage market which prevents you from accessing potential deals.
There are some advantages when getting a mortgage loan through a bank – even mortgage brokers work with banks when shopping around the market! But when you get a loan through a bank, you’re looking at one piece of the puzzle and not the bigger picture. At Coastal Custom Mortgage, we explore the entire market so you can be confident you’re getting the best mortgage for your specific needs. Contact us today to learn even more about our services.