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Mortgage Broker vs Banker: What’s the Difference?

By Aaron Bacus, First Coast Mortgage Funding

Why Mortgage Brokers may be better…from the perspective of a mortgage broker!

Wholesale Loan Shopping vs. Retail Loan Shopping

Brokers have the ability to shop multiple lenders. Opposed to big bank retail lenders, mortgage brokers have a diversity of lenders to choose from which allows them to find the absolute best rate for the client. 

Brokers have access to multiple loan programs. Again, big bank lenders have their loan program, that’s it. Brokers on the other hand, can shop many loan programs to find the best fit for YOU and YOUR CLIENT. This ensures complete control, confidence, and customization for each client’s unique needs. 

Mortgage Brokers Give Customers More Choice

Brokers give your clients choice and multiple options. Brokers deliver for you on service, on price, on products.  They are in a position to be able to provide a much better outcome for the consumers they serve.  They are able to ENSURE they are getting the best price, best access to products, and the best service levels.  Retail lenders cannot provide this level of service and attention to detail for their clients.   

Brokers Close Loans in Weeks, Not Months

At First Coast Mortgage Funding, a mortgage broker located in Ponte Vedra, loans are consistently closed in two weeks. EVERY loan is cleared to close at least one week prior to closing. This is the standard, not the exception across the broker community. 

This 14-day loan process ensures that clients close on time. At First Coast Mortgage Funding we work in small teams for speed and convenience.  Each client is assigned only one loan partner and one loan processor so that the client receives personalized attention and does not get overwhelmed working with too many people. The loan officer oversees each step of the process to ensure that no detail is missed. Processors work diligently with the lender and title companies to get the final disclosers balanced and delivered to the client quickly. Closing packages are delivered early and give clients final figures IN ADVANCE! 

While each mortgage broker has their own unique loan processes, their standards are phenomenal across the board. 

Brokers are INDEPENDENT 

Brokers are independent, so your clients get the best mortgage for them. 

Brokers are fundamentally community oriented

Brokers are the Future 

Brokers are aligned with the right channel to serve the market that we are going into.  While still historically low, it is no secret that rates are on the rise. 

Think of it this way, would you rather walk into a store and be told that you have to buy a specific item off the rack, without looking around, having nothing else to compare it to it? Or would you rather walk into another store, with array of options and items to choose from and have a personal shopper there to advise you in selecting the very best product that suites your needs? Which would you choose? That is why brokers are the future. Their combined cost structure is superior to larger retail players. 

About the Author
Aaron Bacus is the Vice President of First Coast Mortgage Funding and has been originating mortgages for thousands of clients since 1997. If you are looking for a mortgage, Aaron can assist you with your Northeastern Florida mortgage needs. You can reach Aaron at 703-627-1775 or email at

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