If you’re in the process of shopping for a mortgage to finance your new home, it’s important to know your lender options so you can land the best rates. While you have mortgage bankers, mortgage brokers, and traditional banks to choose from, each lender is quite different from one another. The experts at Premium Mortgage Corporation in Rochester, NY, have been helping clients finance their dream homes for over 15 years. They are here to share a few reasons why you should choose a mortgage banker over a broker or bank.
A Variety of Programs to Choose From
While many people choose to shop for a mortgage at the same bank where they have a checking or savings account, this can limit their options. A mortgage banker offers a wide variety of programs for a client to choose from that can help them land optimal rates and pricing options.
Grant & Approve Mortgage Loans
A mortgage broker has access to more programs than a bank, but they do not have the power to make, grant, or approve mortgage loans, as these are provided by third-party lenders. In contrast, mortgage bankers have the ability to lend in their own name from a warehouse line of credit.
Manage the Entire Process
Unlike banks and mortgage brokers, mortgage bankers have the ability to control the process of obtaining financing from start to finish. They have in-house underwriters and local processing, allowing them to offer in-house closing to clients.
If you’re looking to secure a mortgage for your new home, turn to the mortgage bankers at Premium Mortgage Corporation. Contact them today at (844) 793-0177 to schedule a free consultation, or visit their website to find the location nearest you.
Corporate Headquarters Contact Information:
2541 Monroe Avenue
Rochester, NY 14618
NMLS #3254 Equal Housing Lender
Licensed Mortgage Banker NYSDFS