The banks work really hard at trying to convince mortgage borrowers that their mobile mortgage specialists can provide the same products and services offered by licensed mortgage agents. Truthfully, the two offerings are worlds apart.
The number one difference is that mortgage agents offer choice. We can provide our clients with diverse options thanks to our access to multiple product lines from a wide variety of lenders – including banks, credit unions, trust companies, private funders, and so on.
In comparison, bank specialists can only offer you a mortgage from their bank’s one product line.
More choice from agents means you’ll be matched with the best product and rate catered to your unique financial situation.
And if you’re in a challenging situation, such as being self employed or having blemished credit, mortgage agents can still often help you because of the diverse lender options available.
We’ll also get lenders competing for your mortgage again at renewal – or anytime you need to renegotiate your mortgage.
It’s our job to guide you through every step of the homebuying and mortgage processes. And that means staying on top of your ever-changing needs as a homeowner.
Mortgage agents are licensed independents
As mortgage agents, we must be licensed and adhere to strict government rules and regulations. And, in order to keep our licenses, we’re required to take continuing education and relicensing courses to ensure we’re best able to advise on your ideal mortgage solutions.
Mortgage specialists aren’t licensed. They can start working for a bank and begin selling mortgages without rigorous financial training.
Another key distinction is that mobile specialists are bank employees, whereby mortgage agents are independent business owners that aren’t tied to a lender. We work for you, not a lender. We don’t have to adhere to quotas that would tempt us to push one product over another because we have a personal stake in the outcome.
We know mortgages – it’s what we do every day. We do our homework on available mortgage products and stay up to date on any new products, or changes to existing products or mortgage rules, so we can best advise you on offerings that match your specific needs.
And you can be certain – while making a purchase, upon renewal or when accessing some of your home’s equity – that you’re always making an educated mortgage decision thanks to our knowledgeable, unbiased advice.
Have questions about ensuring you get the best mortgage to match your needs? Answers are just a call or email away!