Why Use a Mortgage Broker?

Brokers. We’ve been around a long time. According to ChatGPT (cause it never lies), mortgage brokers first hit the scene in the early 1900s. It was more of an informal position, connecting banks and insurance companies to wealthy individuals. However, it was not until about the 1980s that our positions became a formal profession.

Yet even though we’ve been around for over 100 years, many people do not know what a mortgage broker is, let alone what we actually do. That’s why, when it comes time to get a mortgage, most folks head right into their bank.

There’s nothing wrong with that. Both can help you get into a home, and we believe most bank specialists genuinely care about helping their clients get approved and achieve their homeownership goals.

But here’s the thing we think homebuyers should know: not all mortgage advice is created equal. While a bank specialist works for, well, the bank, mortgage brokers work for you. 

And again, this isn’t to say that bank specialists can’t land you a mortgage. But you need to know that they have some limits that brokers don’t, and that a broker’s flexibility might be the difference that helps you secure the right mortgage for your situation.

The Limits of a Bank Specialist

A bank specialist represents one lender. AKA, their employer. That means that everything they’re offering, like their products, policies, and rates, is limited to what’s offered by that institution. 

If your situation doesn’t fit nicely into the bank’s box (maybe you’re self-employed, have non-traditional income, are rebuilding your credit, or need a more creative solution), the bank might not be able to help you as much as you want them to. Even if they really do want to help, they’re limited by their bank's internal rules and systems…and not every system is created equal.

Bank specialists also have a lot on their plates. They’re juggling accounts, loans, investments, and sales targets, which means their ability to advocate for exceptions or unique situations is often restricted by the back office. 

What Brokers Bring to the Table

Here’s where we come in. A broker isn’t limited to one lender like a bank. They can find you the best rates by shopping across dozens of lenders. They look at big banks, credit unions, and monoline lenders to find a solution that fits your situation the best.

If you’re wondering, a monoline lender focuses solely on mortgage financing, so they don’t have to worry about selling products like bank accounts or credit cards. 

So if you’re self-employed, building or recovering credit, or need more nuanced solutions, these lenders can make all the difference. That makes them another flexible option we can add to the mix when searching for the best rates and terms for you. 

Here’s something else you might not know. 

Mortgage brokers don’t get paid unless your mortgage gets approved and funded. 

This means your goals really become our goals. Success for us means fighting for you to find the best solution.

Still wondering how much your success means to us? 

Here’s a message from one of our brokers, Sarah Davidson:

“Twelve years of working with a client every year towards homeownership. And I mean every year, sitting down and reviewing things and making a plan. I cannot tell you how many unfair hardships this lady endured and came out the other side, was knocked down and started again. Today I got to tell her she is APPROVED. The joy I feel for her I can’t properly explain.”

The Dream Team

This is the one time that we’re going to brag about ourselves.

Our team is backed by a massive network of underwriters, lenders, administrators, and fellow brokers who collaborate daily to get deals across the finish line. We work together to make sure our clients are getting the best option.

So when you’re talking to one broker, you’re really getting the expertise and experience of a whole team (of which our team has over 850 years of combined experience!)

It’s that mix of independence, access, and teamwork that lets brokers handle the tricky parts of home financing and make the whole process easier for you.

And we’ll admit… we’re a little biased. But don’t just take our word for it. Here’s what one of brokers, Chad Eliason, client had to say:

“You fought for this deal when it mattered most, and because of that, my family and I can finally move forward with real peace of mind. I know how many moving parts there were and how easily things could have fallen apart, but your persistence, expertise, and ability to find a path forward made all the difference. It’s rare to find someone in this business who truly cares, who takes ownership, follows through, and treats your outcome like their own."

Whether you’re buying your first home, renewing, refinancing, or just exploring your options, let us help you. We’ll compare solutions so that you can have the best home buying and refinancing experience possible.