Direct Lender vs. Broker

When Shopping for your Home Loan choose to work with a Direct Lender!

Direct Lender There are different options when you are determining what type of mortgage lender you want to work with, and we want to be sure you are knowledgeable about who you are going to use for your loan. CBM Mortgage has had experience working with customers at a broker level as well as a direct lending level. We have decided that it is in our clients’ best interest to be a direct lender.

Being a Direct Lender, we can make decisions. We are with you through the entire process from start to finish. Our initial application gets you started and helps us determine a loan that is best for you by comparing options from products from our portfolio of investors that work directly with us. Working directly with our investors gives us a better understanding of their guidelines making start to finish smoother for you. We have the ability to work with local appraisers who know the market area to get your loan to the closing table faster.

Our home loan advisors review and accept your loan application knowing the terms and conditions of our investors. Our home loan advisors have direct contact with our processors and underwriters,(who are also CBM Mortgage employees) and have the ability to know the status of your loan throughout the entire process. At CBM Mortgage we have all departments in house. Having the ability to have everything in house allows our home loan advisors to work as your advocate throughout the process and keep the loan on time to the closing table.

You may have heard other terms when it comes to home loans such as a mortgage broker or a mortgage bank. Brokers do not offer lending resources directly; they offer a service to find a potential loan essentially making them a middle man on putting you into contact with a direct lender. Also, brokers do not have the ability to advocate for you throughout the process which was one of the drawbacks we saw when working as a broker.  In some cases, a broker may charge a fee for their services whether you make it to the closing table or not.  Appraisers are sent by the bank that you will be working with which could be out of state and not know the area at all.

You may have also been told to go directly to the bank. This option may be putting you in a situation where you may not be dealing with someone who only handles home loans, so their experience is not high level. The bank also typically only has access to their products, their bank guidelines, and they tend to not be as flexible in the process. You are essentially at the mercy of them. Working without an in house team can also lead to closing delays. They may only allow a limited number of “rush” requests per region per day. So, if you are in a tight time frame there is no guarantee that an underwriter can look at the loan in a timely matter.

After having experience as a Broker and a Direct Lender we believe Direct Lending is your best option when to help you through the mortgage financing process. Direct Lending gives you the best of both worlds. At CBM Mortgage we are able to shop numerous loan programs offered by our investors and we know the ins and outs of home loans. We are able to negotiate rates and advocate for our clients, so they get the best results possible. If you have begun the process with someone else and would like us to review your terms we would love to sit down and be sure you are aware of all your options as a buyer. We love having the ability to work with you side by side throughout the entire process.  After all, you are more than just a client, you are part of our community.

We can work with you toward pre-approval online, over the phone, or face-to-face.

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Additional terms and conditions apply. All approvals subject to underwriting guidelines. Not all applicants will qualify. This is an advertisement and not a commitment to lend.