Dealing With Bank Directly
Here are some pros and cons of dealing directly with a bank.
- You are guaranteed to have an established lender throughout
- You could get some extras or discounts for getting a mortgage through your bank
- Appraisal fees and closing costs could be reduced or paid for totally by the bank
- You get face time with the loan officer most of the time (within banking hours, of course)
- It is doubtful that you will get the best possible rate, regardless of your negotiation prowess
- Finding a lender to work with you is more difficult if your credit is not great
- Shopping around is all on you
These are some of the most common pros and cons you could experience by dealing directly with the bank. Now, we will take a look at the mortgage brokers.