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I would like help you with your mortgage needs. I live in Thornton and I want to be your local personal mortgage assistant.

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Refinance Bankers vs Brokers

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Contributed by: Arnold Cohen on 8/24/2007

Where should I refinance

Where should I refinance - When it comes to time to refinance your mortgage you have many choices available to you in todays marketplace. Each choice has its positives and negatives associated with it. You will want to be aware of those positives and negatives in order to make an informed choice regarding your mortgage refinance.

One of the biggest factors in determining where you should go to refinance your home is making sure that you find an honest and reputable mortgage company to work with. Referrals from family, friends, neighbors, co-workers, etc... are usually very nice but they are not always available. Therefore, even if you find a company online talk with someone at the company and ask some questions. The more you are able to talk with someone, provide your personal information to them and see what they have to offer you, the better feel you can get for them and you will be able to make an educated decision as to how comfortable you feel with them. Therefore, give us a call and see what you think. We will work hard and do our best to make sure we "earn" your business.

Bank loan officers versus brokers - When choosing a mortgage professional to work with, you need to decide if you are going to work with a loan officer from a bank or a broker. There are some major differences between the two. Here is some of what sets them apart.

Banks use retail rates, while brokers have access to whole sale rates. Brokers are also working with multiple lenders so they have several whole sale rates to choose from. This means they can find the lowest rate for your situation.

Local retail banks sell only their own loan products. If a bank does not offer a loan program suitable for a borrower in a particular situation, rather than going outside of the bank to find the perfect product, a bank loan officer would try to sell to the client the next best thing. A mortgage broker has much more loan programs to offer. In the same situation, a broker can usually go to other banks and structure a home financing plan short of tailored made for the borrower.

Bank loan officers typically offer programs for "A Credit" borrowers or those with the best credit. Mortgage Brokers have access to hundreds of different programs to fit every credit need.

Arnold Cohen
The Mortgage Store
303-488-5435

I'm in your neighborhood.

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CONTRIBUTOR INFORMATION

Arnold Cohen

Thornton , CO

Arnold Cohen has posted 45 blog entries and 1 comment since joining on 7/30/2007. Arnold Cohen 's average blog rating is 0.

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