Banker vs. Broker

[newstart]

Is it more likely that a banker or broker can get a bker approved for the best deal? when a broker can not get you approved, can a banker get you approved? and who do brokers work for and how do they earn their money, is it per loan or something? or does it go by the fees they charge?

[JeepMom]

We have better luck with brokers because they have multiple banks/programs to pull from.

[AfterBkMortgage]

Brokers have more programs

JeepMom is correct. Being a mortgage broker lets you use thousands of loan programs available to find the best program for your client!

[MTG_BANKER_OH]

Is it more likely that a banker or broker can get a bker approved for the best deal? when a broker can not get you approved, can a banker get you approved? and who do brokers work for and how do they earn their money, is it per loan or something? or does it go by the fees they charge?

It also depends on if you are working with a mortgage banker, that way you have the best of both worlds, mortgage bankers fund thier own loans and sell then at closing to the lender you lock them in with, which provides better rates then brokers and the they also have the ability to broker loans as well that are outside of normal conforming guidelines.

[newstart]

It also depends on if you are working with a mortgage banker, that way you have the best of both worlds, mortgage bankers fund thier own loans and sell then at closing to the lender you lock them in with, which provides better rates then brokers and the they also have the ability to broker loans as well that are outside of normal conforming guidelines.

That clears up alot for me thanks.