February 17, 20263 min read
The simple version is easy; the mortgage-specific details are where the answer becomes valuable. A bank can offer its own mortgage products. A mortgage broker can compare products from multiple lenders, which may include banks, credit unions and mortgage-focused lenders depending on the broker's network.
How the mortgage math works
Here is what matters most:
- Your bank already knows your deposit relationship, which can make the process familiar and convenient.
- A broker can compare policies as well as rates, which is useful when income, property or future plans do not fit one lender perfectly.
- Some lenders are available only through the broker channel, while some bank offers are available only directly.
- The best approach is to compare equivalent products and understand who is responsible for advice, paperwork and follow-up.
Choose the route that gives you transparent comparisons and a mortgage structure that fits your plans.
Want this applied to your own numbers?
Call Phil Cragg at 866-349-4915 or request a written comparison.
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