Why mortgage broker over a bank?

Posted On Nov 04, 2024

Mortgage Broker 

• Licensed professional who specialises in mortgages
• Works for you, not the bank
• Paid by the lender, except in special cases discussed before hand
• Access to multiple lending products, focused on your needs
• Available when you are
• Unlike a bank/credit union I won’t ask to move your investments from your current institution

Banker

• Non licensed, cross trained for other banking tasks
• Works for the bank’s shareholders
• Paid by the bank
• Only bank’s lending products, focused on lending
• Typically available 9-5 M-F
• Bank/credit union may ask to move your investment to their branch