Why should you use a mortgage broker for your loan and not just go to a bank?  That is a great question...and I am glad that you asked.

The answers to this question are many but I will stick to just a couple of the best reasons.

First, mortgage brokers in Florida are required to be licensed.  We are required to complete minimum education requirements (time in the classroom), pass an end-of-course exam and then pass a comprehensive state examination.

The loan officer (LO) in a bank has likely not completed any education other than the training provided internally by the bank.  Most of that training has to do with the bank's products and how to sell them.  Bank LOs are not required to be licensed.

In addition, once licensed, mortgage brokers are required to complete semi-annual continuing education classes just like CPA, Attorneys, etc.  Not only am I a licensed mortgage broker, I am a Certified Public Accountant and a licensed real estate broker.  I no longer practice real estate although I keep my license active and can if called upon to do so.

Thirdly, the best analogy I can use to illustrate the difference between a mortgage broker and a bank loan officer is to have you think about getting your automobile serviced at the dealership versus the local shop owner.

If you chose to go the dealership to get your work done, you know going in that you will end up paying more, that the parts will be those of the particular manufacturer (i.e., Ford Motorcraft parts at the Ford dealer) and you aren't really sure if the work done is any better than that done down the street.  But you know, if you choose that route, you will definitely pay more for the service and the parts because you are helping to pay for that lavish dealership ("brick & mortar").

If you choose to go to the reputable auto repair shop down the street, you know the local shop owner/mechanic has likely been in the business a good number of years and really knows his stuff.  He does the work.  The parts he uses will be a good suitable substitute unless the original equipment parts are required and due to his relationships, he has access to those parts and will use them if necessary.  The substitute parts are just as good, in many cases, and don't cost nearly as much.  Since he doesn't have to pay for a big fancy building and a bunch of people standing around doing nothing, he can pass those savings along to you.  Mortgage brokers are not required to sell a single product.  We have access to the universe of products available.

The bottomline is this...at the end of the day, your car is repaired under both scenarios.  However, doesn't it make good dollars and sense to choose the most efficient, least expensive way to achieve the same outcome?

Now, that's the way "good and reputable" mortgage brokers work.  We have access to the universe of products but can use products from the major banks and lenders if that product is more appropriate.  We aren't forced to do so like the bank's LOs are.  We don't have the overhead costs.  All I need is my computer and access to the internet and I am in business. 

Needless to say that there are mortgage brokers out there who don't have any business being in the lending business.  There are plenty of those and you have to be careful when chosing who you will work with.

I have spent my career as a professional proven in giving financial advice to his clients regarding some pretty weighty financial matters.  I will do more than sell you a loan.  I will sell you the right loan.  You and I working together will determine what that is.  Please allow me to help you.