How to Find the Best Atlanta Mortgage
Banks vs. Mortgage Brokers
If you're in the market to buy a home...likely, you're also in the market to find the right mortgage to finance that home. It's important to know there are huge variations between mortgage brokers and bank loan officers.
Atlanta Bank Loan Officers
Loan officers at a credit union, bank or large lending houses (ie. Wells Fargo, Bank of America) are employed by those institutions and, hence, work to sell the loan and mortgage products offered by their employer. Many of these institutions have a large selection of loan types to select from but it's important to note that all of those loans "originate" from one source.
Atlanta Mortgage Brokers
Much like real estate agents, mortgage brokers act a "freelance" agents who are paid an origination fee to broker loans between hundreds of lenders across the nation.
One way to think about a mortgage broker is as a "scout". They seek out and evaluation a home buyers personal credit situation to find a loan product that is the best fit. A good mortgage broker will work on the buyers behalf to find the very best rates and terms available for their specific credit and debt scenario.
What Difference Does it Make?
It depends on your specific situation and what you value most in a transaction.