There are a number of reasons why working with Alterna Mortgage is better than working with a bank. We decided to make a list for you!
Drawbacks of working with a bank
- They have conservative loan programs.
- They don’t disclose the yield-spread premium.
- Working with banks is generally a lengthy process and can be very bureaucratic.
- Large banks tend to lose track of the details. You might get false promises.
- They may overcharge you because their commission doesn’t need to be disclosed.
- Sometimes the people you are working with are not educated about the home loan process. In some cases, they’re just general bankers or customer service representatives.
Pros of working with Alterna Mortgage broker
- We do all the legwork for you, working on your behalf with the lender
- We compare wholesale mortgage rates from a large number of banks and lenders all at once
- We have access to wholesale interest rates that can be lower than bank branch interest rates
- We work with numerous banks and lenders so you get more loan options
- We can finance custom lending situations because of our experience and various lending partners
- We are a LOT less bureaucratic…so you will be working with the owner, Scott, directly through the entire process.