When shopping for a mortgage, there are a number of different options a borrower has when it comes to choosing a mortgage lender. The primary types of mortgage lenders consist of mortgage brokers or mortgage bankers.
Benefits of Working with a Mortgage Banker
A mortgage banker funds loans directly to clients/borrowers and controls the process from start to finish including the initial loan application and disclosures, underwriting, and funding/closing of the loan. This allows a streamlined process and avoids potential delays by having more control over the entire loan process from beginning to end.
Benefits of Working with a Mortgage Broker
A mortgage broker works for the borrower in helping them find and secure a mortgage loan based on their overall credit and asset profile. As a result, they have many options to choose from and are typically incentivized to find the borrower the best loan program for their needs. They have access to many resources but are limited in their ability to control the overall loan process and may face challenges in approving a borrower if their credit profile is less than ideal for that specific bank’s appetite.
The Benefits of Working with Bluefire Mortgage Group
We want to ensure we are always providing clients with loan options that best fit their needs. The good news is that Bluefire Mortgage Group operates as both a mortgage banker and mortgage broker.
The flexibility of being a broker paired with the streamlined process of being a mortgage lender, allows us to work in the borrower’s best interests, rather than forcing them into a limited selection of mortgage products.
We are constantly expanding our product line and loan processes so your experience with Bluefire Mortgage is faster, easier, and better.
If you have any questions about our loan product offering, please contact our office at (760)930-05569 to speak with one of our experienced Mortgage Loan Originators.
