Since mortgage brokers work hard to earn your trust, you may find that a mortgage consultant will try to educate you on the mortgage process. You are more than just a number to a mortgage broker, you are a client for life. You may not recieve that same treatment from a bank.

A mortgage broker provides tremendous value to their clients. Beginning with the ability to provide a vast number of loan choices, a mortgage broker is often an expert in the lending profession and more than capable of offering invaluable advice. Combine this with their learned ability to negotiate on your behalf to insure that you receive an individualized custom loan designed for your specific needs. These are just some of the benefits of working with a mortgage broker that makes for customer satisfaction and long term relationships.

The fact is there is not one bank in the nation that offers all available loan programs to accommodate every type of homebuyers and homeowners. Some banks concentrate on the non-prime mortgage market while others specialize in A-papers (low default risk loans). Most neighborhood banks offer only one set of cookie-cutter loan programs for every home buyer that walk through their doors. When these banks do not have the best suited mortgage product for a particular loan applicant, rather than pointing the applicant to the bank with the right loan program, they often give the applicant the next best mortgage loan.

On the other hand, a mortgage broker on average deals regularly with dozens of different banks offering various loan products. An experienced mortgage broker can almost always find a better suited loan for any homebuyer than most bank loan officers can.

More over, since mortgage brokers do all of the loan processing works, such as ordering and reviewing appraisal and title, educating home buyers about available loan products, evaluating the loan applicant's credit profile, income and asset situations, satisfying loan conditions, etc., in addition to paying for all the marketing costs, thereby saving the banks most of the overhead expenses, banks are more than happy to offer mortgage brokers what is known as "wholesale rates". Wholesale rates are on average 0.25% to 0.5% lower than the "retail rates" offered by neighborhood banks directly to home buyers. Mortgage brokers are then able to pass the lower rates to the homebuyers.

In the year 2004, nearly 65% of all new residential mortgage loans were originated by mortgage brokers.

I really good Broker is considered a "Trusted Advisor" and will present 3 or more programs and let you choose the one you think is right for you. This can be presented on a total cost analysis spreadsheet showing the savings difference in programs based on the length of time you plan on staying in the property.

There are many factors that come into play when choosing the right program which makes it very unprofessional for any loan officer to simply throw out rates and fees before obtaining critical data from the borrower.

As your mortgage broker, we make hundreds of banks compete for your business, and are able to offer you options which a single bank could never provide. By using a mortgage broker, you are assuring yourself the widest selection and advice which is designed to get you the best deal, not to line walls of some bank's vault with your hard earned money.

Don't just look at the mortgage interest rate. Take a close look at all the terms of the mortgage program. Check with several lenders, either directly or through a mortgage broker. You also can do some comparison shopping yourself on the Web.

New studies show that working with mortgage brokers consumers pay lower annual percentage rates than mortgage lenders.

Mortgage brokers typically have access to your major banks programs at wholesale rates.

Brokers are not forced to use the bank that they work for. Brokers have access to any bank that has the best program for your situation. If you have not so perfect credit or other issues you think may be a problem then a mortgage broker is your best choice.

Mortgage brokers give you the consumer, the leverage you need to find the best programs for the best possible value. Working with a broker gives you the access to hundreds of banks and hundreds of guidelines, not limiting you to one set of financing guidelines from one bank.