Mortgage Banker vs. Broker?
GuardHill is a mortgage banker. A mortgage banker is a direct lender whose sole expertise is mortgages. A mortgage broker is a third party that arranges mortgage financing with lenders. A retail bank is a bank who sells financial services; their main focus is not on mortgages.
A mortgage broker has multiple lenders to choose from. However, a mortgage broker does not have the ability to underwrite the loan, provide flexible programs to the borrower, and control over the overall loan process.
Retail banks are known because of their established brand name. A retail bank’s main focus is not on mortgages. They only have one set of guidelines and if they cannot secure the loan or offer a good rate, the bank does not have any other options. This results in the client having to re-apply with another bank. A mortgage banker also has multiple lenders to choose from. They have the ability to offer flexible and competitive pricing due to the variety of lenders they can work with. A mortgage banker can also approve and close loans with their own funds. They are mortgage specialists and have control over the loan process.
At GuardHill, we work with over 50 investors and lenders which ensures we will find the best loan program for you. Our in-house underwriting team works swiftly and efficiently and can provide 24-hour pre-approvals. We offer the best combination of rates and service, and only do mortgages.
Contact us today to get started with a smooth and seamless loan process!