Mortgage Brokers vs. Mortgage Bankers

Real Estate

Mortgage Brokers vs. Mortgage Bankers

What's the difference?

Benefits of Brokers: Brokers work individually with borrowers. The broker is independent and searches for a loan based on his customer’s needs, not his employer’s needs. A broker matches clients with lenders then walks the paperwork through final approval and funding. Brokers’ fees are paid by the lender, so they are of no consequence to the buyer.

Benefits of Bankers: Mortgage bankers are direct lenders; working with them eliminates the middleman. Mortgage bankers themselves approve or reject loans and may prove more expeditious. Mortgage bankers must have substantial net worth if they are to survive. Because they are competing with both other bankers and brokers, mortgage bankers offer competitive rates.

For your mortgage pre-approval, I recommend working with one of the companies below to get you started (I have relationships with all of them and they are all great professionals).

Guaranteed Rate Affinity - (affiliated with Coldwell Banker):

Mark Neal
Vice President of Mortgage Lending
O: (954) 467-8537 - C: (919) 218-1280
901 E. Las Olas Blvd. Suite 101 Ft. Lauderdale, FL 33301
NMLS# 133226

The Mortgage Firm:

Darlene DiMarco
License: 334215
Senior Loan Consultant
Phone: 954 253 8670
Cell: 954-835-5372
Fax: 954-990-7003

Chase Bank: - contact  Grash at   or 954-495-1588 (cell)

Nathaniel Grasch
Sr. Home Lending Advisor
NMLS ID 1094827
1800 North Federal Highway, Ft Lauderdale, FL 33305
Cell: 954-495-1588
Office: 954-568-4143