Mortgage brokers and advisors often specialize across loan types, property types and geographic locations. Many have strong lender relationships unique sources of funds and potential investors for the specialty loan. In periods of tight money, lenders won't be beating down your door to lend, so the broker/agent who is compensated on the completion of the transaction is likely your best bet. Our view is that it is good to have choices. You can canvass both lender and brokered solutions anonymously, without commitment, then review, compare and select amongst the responses. The decision is typically loan specific and reviewing your options should be done quite early in the process before one starts spending money on 3rd party services like appraisals etc.
Oct 11, 2011