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Mortgage Lender vs. Mortgage Professional

mortgage lender vs mortgage professional

Mortgage Lender vs. Mortgage Professional

Coming from the banking world and the credit union world, I prefer working as a mortgage professional as I specialize in mortgage products and can focus on finding the right loan to fit the special needs of all my customers. We can work with various realtors and our flexibility allows us to have many realtors specializing in these products as our fingertips.

What is the difference between a mortgage lender vs a mortgage professional? If you are starting with a realtor, the chances are the realtor will refer you to a mortgage professional or mortgage loan officer in the state of Texas. The mortgage pre-approval is the most important part of the home purchase process. It is the most important piece and will let you know your buyer power and help you to stick out in the sea of offers sellers are seeing from the time they put their home on the market. Without it, you do not know how much payment you can afford or be taken seriously as a purchaser.

Therefore, it is always best to start with a mortgage professional. So, what is the difference between a mortgage lender and a mortgage professional? A mortgage lender is typically a bank or a credit union. They have a limited amount of mortgage products they can offer, and the rates can be higher based on the product or type of home you are purchasing.

They may have limited abilities as they may portfolio their loans to sell later in a bundle or based on the board-approved loan programs offered by the institution.

A mortgage professional typically works for a mortgage broker and will have access to a plethora of investors and rates to fit any scenario. At Elite Financing Group, you get to have access to over 20 different investors with a large array of products to help first-time homebuyer, ITIN borrowers, self-employed buyers, and many other types of customers.

Coming from the banking world and the credit union world, I prefer working as a mortgage professional as I specialize in mortgage products and can focus on finding the right loan to fit the special needs of all my customers. We can work with various realtors and our flexibility allows us to have many realtors specializing in these products as our fingertips.

We encourage our customers to get various opinions and allow us to help you get the best deal, even if it is not with Elite Financing Group. We want the best for you and value a trust-based relationship with our clients.

Another big difference between the two (mortgage lender vs a mortgage professional) is a mortgage lender will have company overlays which result in additional conditions. Also, there may be additional fees you will be asked to pay. If you do decide to talk to a bank or call center, please reach out to a mortgage professional/broker to make a comparison and find the best fit for your situation. I would be happy to look at your fees and give you feedback on your options.

You can visit lisabarrientes.com to research your product options.  Please take your time to find the professionals with your best interest in mind.  Remember when asking others for referrals, they chose professional realtors and mortgage loan officers based on their needs. This just means you should vet out your own options based on your needs.

You certainly want a realtor that lives in the area you are shopping and have the experience needed to know about the school districts and other local information. Do not allow a mortgage professional steer you into a product you are not interested in or push a loan on you with high discount points to get you a particular rate.

Some of you may wonder what products you qualify for based on your own scenario. You can contact me to determine what you can qualify for through my website or call me at 512-740-2048 to discuss it.

Good luck and I hope you find the perfect home for you or your family.

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