90% of the time that is an accurate statement. There are cases where a bank like Wells Fargo is untouchable with regards to rates on high balance loans but that's the only time I would say a direct lender (bank) is better.
Nope! Direct Lender is better...This is just a sale pitch.. I was a mortgage broker before. You can represent 200 lenders, but if all of them are garbage, then what good does that make?
@@dericdinh9926 - how long ago were you a broker? Its a completely different environment than it was 15 years ago. These past few years the wholesale lenders have used technology to not only make the process smooth and easy but with much lower margins than a direct lender.
i am using a broker and he wont give me a cost or interest rate till i find a house . Mortgage bankers says they can hold a rate for 30 days . DOes this sound right
Hey Jeb! Great video. This is Sarthak. I am about to rollout a product for Mortgage Brokers, I had some doubts regarding the functionalities and legalities. Can you help me with that?
Had to rewind this a few times.
So the answer is that a Mortgage Broker is better than a Direct Lender, correct?
90% of the time that is an accurate statement. There are cases where a bank like Wells Fargo is untouchable with regards to rates on high balance loans but that's the only time I would say a direct lender (bank) is better.
Nope! Direct Lender is better...This is just a sale pitch..
I was a mortgage broker before. You can represent 200 lenders, but if all of them are garbage, then what good does that make?
@@dericdinh9926 - how long ago were you a broker? Its a completely different environment than it was 15 years ago. These past few years the wholesale lenders have used technology to not only make the process smooth and easy but with much lower margins than a direct lender.
@@MattTheMortgageGuy Agreed. Broker > Direct Lender
i am using a broker and he wont give me a cost or interest rate till i find a house . Mortgage bankers says they can hold a rate for 30 days . DOes this sound right
I am having the same problem!
@@paulromero3783 guess what .We found a house and all of a sudden theres problems with my paper work so theres higher interest rate and fees .
I am also dealing with a broker that will not tell me the rate until I know which home I want. Why is this?
They should be able to provide you what today's rates are but they won't lock a rate until you find a home, that is completely normal
Do you have a broker in dallas ?
Yes, please reach out at jeb-smith.net/referral
Hey Jeb! Great video.
This is Sarthak. I am about to rollout a product for Mortgage Brokers, I had some doubts regarding the functionalities and legalities.
Can you help me with that?
I’m a software dev do you need any help getting it built?
Many thanks for sharing this information very helpful...
You're welcome.......Thanks for watching.
great video - thanks for detailed, specific info
You're welcome.
Great information, do you have information on a broker for Phenix City Alabama?
Send me an email at jeb@jebsmith.net
Do you lend in Maryland?
Josh doesn't personally lend in Maryland but we have someone who does. Do you want that information?
@@JebSmith,
Yes, please.
@@roseek8980 Brendan McKay
Owner & Sr. Loan Officer
McKay Mortgage Company
NMLS #554441 | Company NMLS #1590323
301-520-5677
bmckay@mckaymtg.com
www.mckaymtg.com
7315 Wisconsin Avenue, Suite 400,
Bethesda, MD 20814
Broker is way better for sure, direct lenders are horrible with the rates.
What’s the best way to find a broker ?
Email me at Jeb@jebsmith.net and I'll connect you.
Well I’m glad I found this
That's an old one. hahaha.
@@JebSmith we need an updated video with this crazy market.
If I had great credit can I get a Mortgage loan with fake documents? I'm dead ass serious
No.
A dodgy broker you could work something out but I don’t recommend you going down that path. All I’m saying is, it’s not a definite no
@@danieltomaino3697 im sure its possible especially depending on how high the credit score is and how stacked the credit profile is