When it’s time to get a mortgage, many people automatically start with their bank. It makes sense—perhaps you’ve been with the same bank for years. They already have your accounts, your credit card, and a fairly good picture of your finances.

But when it comes to your mortgage, there’s a good reason to look beyond what’s familiar.

A bank can only offer its own mortgage products. A mortgage broker can review options from a range of lenders and help you determine which one best fits your needs. That’s an important difference.

One Lender vs. Multiple Options

When you apply directly with a bank, you’re working within that bank’s rates, products, and lending guidelines. You either fit what they’re looking for, or you don’t.

A mortgage broker isn’t limited in the same way. They can work with banks, credit unions, and other mortgage lenders, along with alternative and private options when the situation calls for them.

This matters because lenders don’t all assess borrowers in the same way. One lender may be a great fit for someone with straightforward salaried income, while another may be more comfortable working with a self-employed borrower. Some mortgage products may work better for someone planning to move in a few years, while others may make more sense for a homeowner who expects to stay put.

It’s about finding the right fit, rather than trying to fit everyone into the same mortgage.

Your Mortgage Is More Than a Rate

Of course, the rate matters. It’s usually one of the first things people ask us about. But there is much more to compare.

Prepayment options, penalties, portability, and refinancing flexibility can all become important during the life of your mortgage. You may not be thinking about selling your home or refinancing when you sign today, but life has a funny way of changing plans.

A good mortgage broker will discuss those considerations with you upfront, so you understand how your mortgage could work if your circumstances change.

There’s Value in Having Someone Shop the Market

You can absolutely do the shopping yourself. You can call a few banks, make appointments, compare offers, and try to work through the differences between them.

Or, you can work with someone who is active in the mortgage market every day.

A broker has relationships with different lenders and understands what they are looking for. That can be especially valuable when your application isn’t completely straightforward.

Sometimes, the difference between getting a “no” and finding a solution isn’t your financial situation at all. It’s knowing which lender to approach.

What If Your Bank Has a Great Offer?

Then it’s a great offer.

The point of working with a mortgage broker isn’t to avoid banks—brokers work with banks, too. The difference is that you’re not automatically choosing one simply because it’s where you’ve always done your banking.

You’ve had the chance to look around first. Considering how much of your monthly budget can go toward your mortgage, we think that’s worth doing.

A Little Competition Isn’t a Bad Thing

Banks have an important place in the mortgage market, as do credit unions and other lenders. A mortgage broker helps you see more of that market.

At InTouch Mortgage Solutions, we start by getting to know you and what you’re looking for. From there, we can compare lenders, explain the differences, and help you decide which mortgage works for your situation.

Maybe that’s with a major bank. Maybe it isn’t. Either way, you have options.

Before You Sign, See What Else Is Out There

Whether you’re buying a home, refinancing, or coming up for renewal, get in touch with InTouch Mortgage Solutions and let’s look at what’s available.

Your bank can give you an option. We can help you compare it.