When it comes to borrowing money to buy or refinance a property, there are many options. There are Retailers, Branches, “Direct Lenders” and Brokers. One really good question is “Why Work with a Broker?”
Here at the GHG we’ve chosen to continue to operate as a Broker for a number of reasons. For the sake of time I’ll go through just a few here. These are the ones my clients have told me are the most important.
CHOICE – As a Broker, we are approved with many different lenders. Each Wholesale Lender offers different rates, products, and service levels. So we have the ability to match our client with the right Lender. The differences among lenders can be surprising. Some a great at interest rates but too busy to close on time. Some have great VA or FHA products but aren’t as competitive at conventional loans. Navigating this information is what gives the Broker the advantage over the competition.
FLEXIBILITY – If something goes wrong with your loan, and you’re with a Retail, Branch, or Direct Lender, what happens? Well, often these institutions are less flexible. They have their set of rules and cannot deviate from them. When that’s true, if something goes wrong then your loan dies… end of story. As a Broker we have the option to switch to a different lender, or even negotiate a solution. This flexibility helps ensure that your loan closes on time and as planned. Let’s face it, there are a lot of folks out there that need more than just a regular ol’ bank loan. Don’t believe me on this one? Just check through some of our YELP reviews and see what people have to say about their experiences with the GHG vs the Big Banks.
GREAT RATES – As a Broker we work with Wholesale Lenders rather than Retail Banks. As you probably already know, the idea behind buying wholesale instead of retail is cost savings. Retail has sales forces, store fronts, and advertising costs. All of these things add up to Overhead costs and are likely to increase the cost of the end product to the Borrower (You!). Our Wholesale Lender Partners have lower overhead and lower overall costs and most often are able to offer lower rates than their Retail competitors. That means we can offer you lower rates and fees to get the same loan.
These are just a few examples of why we believe that being a Broker offers more value to our clients than any other structure. As our commitment remains to give you the best experience possible, we’l continue in that pursuit alone.
To request a time to discuss your particular situation CLICK HERE to send me an email and we’ll make it happen for you.