Direct Lender vs. Mortgage Broker

I wrote a post about whether it was best to go direct to the bank for a loan, or through a mortgage broker back in March. Here's that article.

Well, I got to see it first hand with a recent transaction where the Buyer went through a Mortgage Broker, who ended up going with one of my two favorite lenders, and sure enough it took weeks longer to get the loan done and approved then my direct experience at just about the same over lapping time when a client of mine went direct to that lender.

I have mad love for really, really good mortgage brokers, but right now they are all taking their loans to just a couple of banks, so why not go direct? If a Broker is reading this feel free to chime in with a rebuttal by using the "comments", but for now I'll do my best to convince my Buyer clients that going direct is in their best interest.

Keep in mind that any type of kick back is illegal - so there is nothing in it for me with whoever you go with - this really is a "peace of mind" and speed recommendation. Eventually, when liquidity in the mortgage market really eases up, I'm sure I'll go back to my favorite Brokers, but not just yet.

Buyer Testimonial

I don't often post testimonials on this site.... but I so often read the negative comments that the general public has about Real Estate Agents, and my rebuttal is that you just need to find the "right" agent to avoid that experience. Not too dissimilar from finding a great mechanic.

So I hope you'll pardon me for sharing this testimonial here:

Truly, a big thanks to you for working with us relentlessly! We have come across many Real Estate Agents and definitely knew that we chose the right one working with you; down to earth, straight to the point, no nonesense talk, knowledgeable and extremely reliable. We always had a good sense that you had our best interest at heart and we appreciate that you definitely put the work in. Another thing that stood out was was how responsive you guys are, always kept us updated and in the know, even with your little newborn, you were indeed very dedicated!
Also, I really was very touched by your gift, it was a lovely surprise and a very kind gesture, we'll definitely look forwards to going there and enjoy it.
For sure, we will come back to you whenever we decide to sell our current or future place and will further recommend you to people that we know.
Take care and enjoy your little family...until next time!
Rachel & Ajmere.

Wow. That made my week. Thank you Ajmere & Rachel.... you were even better to work with. By the way, when Rachel wrote "you guys" she's referring to my business partner at SFisHOME, Ciara Piron. If I couldn't make an appointment or see a property Ciara is always there.