Why Ever Use a Mortgage Broker over a Bank?
Better Home Financial is celebrating 29 years in business, proudly serving the San Dimas area's mortgage loan needs for nearly three decades!
We are honored to be able to call such an exceptional community “home”, and want to say thank you to all our past, present and future clients. In an industry that has earned a bad reputation, we wear our longevity as a badge of honor.
We know it shows we have always operated ethically and in our clients’ best interest, have consistently offered competitive interest rates and have been able to provide a superior level of expertise and customer service while being the only mortgage industry professionals actively engaged in the San Dimas community.
We are proud to live and work in San Dimas, and are happy to answer any questions you may have!
In fact, there’s a great question I recently received while I attended a friend’s Christmas party, one that I think everyone should know the answer to.
Knowing I had left a CPA firm to become the CFO of Better Home Financial, my friend’s Dad asked me:
“Why would someone get a mortgage loan through you at Better Home Financial (a mortgage brokerage), when they could go to their bank or credit union and get a loan directly from that lender? Would it not cost more to use a broker than to go directly to the bank?”
On the surface it does seem to make sense, but this is a very common misconception of the mortgage industry that is pervasive among borrowers and homebuyers.
The short answer is this: banks and credit unions are a retail channel (think Nordstrom), while mortgage brokers can go directly to countless wholesale lenders to find the best interest rates and loan programs available (like going directly to the supplier).
The only difference is when you are shopping for clothing, you can generally expect better service at a retail store, yet the service we provide at Better Home Financial is far superior to what banks or online lenders are able to offer.
Banks know they have a captive audience when their customers are waiting in line for a teller, using online banking or a mobile application.
When I find myself interacting with my bank I can’t help but notice the bank’s mortgage rates are displayed in multiple places and advertisements are constantly encouraging me to talk to one of their mortgage bankers.
Banks spend millions upon millions of dollars advertising to convince you to sign up for an account, and then exploit that relationship to try to sell you additional services (like mortgage loans) at a premium cost.
At Better Home Financial, we are consistently able to get our clients much lower mortgage rates than are available to them through brick and mortar banks while also providing better service, much faster processing times and full access to our exceptionally knowledgeable staff.
As a full-service mortgage brokerage, we also streamline and consolidate the process with title and escrow so you don't have to go running around in order to close your loan!
We pride ourselves on getting to know our clients and performing an in-depth analysis with each borrower to ensure the loan you receive matches your long term financial goals.
We are transparent about the lending process and do everything we possibly can on behalf of the borrower to alleviate the stress of obtaining a home loan.
We are also flexible in the way we communicate, be it in person, telephone (a live person answers when you call our office), email, website or even text.
Are you a busy professional that works long hours, and you don’t understand why you need to take time away from your job to meet between the hours of 9am and 5pm? Neither do we.
I am happy to meet when it is convenient for you! Whether it be mornings, nights, and weekends, we can schedule whatever is convenient for you, so feel free to email me anytime at mike@bhfmortgage.com.
Also, every email I send contains my personal cell phone number in the signature, and when necessary I welcome clients to text or call outside of traditional office hours.
If you or someone you know is looking to get pre-approved for a home loan, or is looking to refinance an existing loan feel free to use our FREE Home Purchase Qualifier here, or our FREE Loan Refinance Analyzer to get started today.
We look forward to meeting you, and for the opportunity to show you why we’ve been San Dimas’ go-to mortgage professionals for nearly 30 years!
