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Mortgage broker vs. bank
Short answer
A bank generally offers its own or affiliated mortgage products. A mortgage broker can compare eligible options from participating wholesale lenders with which the broker is approved.
Detailed explanation
A bank generally offers its own or affiliated mortgage products. As a mortgage broker, Imperium can compare eligible programs and pricing from participating wholesale lenders with which we are approved. We do not have access to every lender or every mortgage product.
Consumers may also obtain Loan Estimates from other lenders and compare available offers. The available result still depends on the consumer, property, program, lender, jurisdiction, documentation, and market conditions.
What this means for you
Compare the written terms and costs available to you. A broker relationship does not prevent you from requesting offers from banks, credit unions, or other mortgage providers.
Important limitations and exceptions
- Availability, eligibility, pricing, documentation, and state coverage vary. This article is general education and is not an approval, rate quote, Loan Estimate, commitment to lend, or recommendation for a specific consumer.
Primary references
Educational-information disclaimer
This article provides general mortgage education. It is not legal, tax, investment, or financial-planning advice; an approval or credit decision; a commitment to lend; a rate lock; a Loan Estimate; or a recommendation for your specific circumstances. Consult the appropriate licensed or independent professional for transaction-specific guidance.