Western Mortgage Brokers, Inc.:
- As a broker, mortgage financing is our specialty. We can save you time by negotiating the lowest rate for you.
- We have wholesale pricing, which means we offer better interest rates than banks.
- We tap into a much larger pool of options by working with 12 different lenders. That means we can pass volume discounts on to you, providing you the best deals.
- We have access to 103 loan programs including HARP, VA, FHA, USDA, Reverse Mortgages, Sub-Prime and “One Time Close” construction loans for stick-built and manufactured homes. We work with a variety of lenders, including those who specialize in servicing people with adverse credit, and can leverage relationships with mainstream banks.
- Our compensation is regulated, therefore, we’ll tell you upfront what you’re paying.
- We use local appraisers and underwriters, which means accelerated loan processing and 21-day closings.
- As brokers, we are federally licensed. We complete a nationally regulated education program and undergo 10 credit hours of continuing education each year.
- Contact us today and let’s get started.
Bank or financial institution:
- Banks do not solely specialize in mortgage lending. They provide traditional banking services, such as checking and savings accounts and other financial services.
- With a bank, you get retail interest rates. The only way you can access their wholesale rates is through a mortgage broker.
- Banks can only access and offer you their own rates and products; you are responsible for any negotiation.
- Each bank typically offers just a few mortgage options, and they have conservative lending guidelines. Borrowers who have trouble qualifying or need to finance complicated deals will often get turned away.
- A bank doesn’t have to disclose its commission, so you may be surprised by what you end up paying.
- Underwriting and appraising is managed through national channels, which often means lengthy processing time.
- Mortgage originators who work for a depository bank are excluded from licensing. They only have to be registered, which means they don’t have to pass a national mortgage exam or complete continuing education.