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Union Home Mortgage Review – Should i use my bank or a mortgage broker? | mortgage broker vs bank

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Union Home Mortgage Review – 3 Tips

Mortgage broker vs bank. In this video I talk about whether someone should use their bank or a mortgage broker. Should I use my bank or a mortgage broker is a common question for me . I talk about mortgage broker vs bank and the pros and cons to each when it comes to mortgage loans. Each outfit has different mortgage rates, they have different loan products, and they have difference guidelines and processes. A loan originator/loan officer at a bank will have different products and guidelines than a mortgage broker and in most cases has to abide by some antiquated processes most banks use to process loans. Not only do brokers have the ability to shop multiple mortgage lenders for the best rates and terms, they also shop multiple wholesale mortgage lenders to find who is able to close the fastest and with the smoothest process. In order to be as unbiased as possible I provided a few scenarios where a bank would be the best option.
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A few videos that might be helpful:

The importance of working with a pro: https://youtu.be/zuceT1O05NQ

How to find the best mortgage rate: https://youtu.be/MHbeHqeqZzI

Should you wait for rates to go lower: https://youtu.be/GiQhF49ZVPQ

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More info on refinancing: https://mattthemortgageguy.com/refinance/

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33 Comments
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33 Comments

  1. Matt the Mortgage Guy
    July 23, 2021 at 3:10 pm

    Looking for a local mortgage broker? Connect with a partner of mine here: http://www.greatmortgagebroker.com/

  2. Joshua Boyce
    July 23, 2021 at 3:10 pm

    Hey man love your content. My wife and I are 1099 and do descently well…come tax season though we are experts at looking small. Great on the tax side of things not so much for getting a mortgage. We live in Iowa…any suggestions on a good mortgage broker? TIA

  3. Chris M
    July 23, 2021 at 3:10 pm

    You put it so well at 6:28 to 6:39. Paraphrasing: "People just calling around non-stop asking for the best rate, are not going to find the best rate, they're going to find the best liar."
    Because expecting a broker to "give you a great rate" on the phone, is like expecting the TV weather lady to deliver sunshine next month.

  4. Jan Fairweather
    July 23, 2021 at 3:10 pm

    Thanks for the insight Matt. 👍

  5. Ifteker Uddin
    July 23, 2021 at 3:10 pm

    I love your video intro.and the music Please don’t change this one lol

  6. Mary Bolin
    July 23, 2021 at 3:10 pm

    The back ground music is so distracting it's hard to concentrate on what you're saying

  7. Deric Dinh
    July 23, 2021 at 3:10 pm

    If you have a bad broker, your loan could be denied 5 times. They will sent to 5 different lenders and all 5 of them denied you!

  8. Tin Man
    July 23, 2021 at 3:10 pm

    Got someone in Wisconsin?

  9. Pretty Natural
    July 23, 2021 at 3:10 pm

    Great job

  10. Catherine G
    July 23, 2021 at 3:10 pm

    Thanks Matt for another great video!

  11. Eliza Albert
    July 23, 2021 at 3:10 pm

    Super helpful video. Thanks!

  12. Nicol Bolas
    July 23, 2021 at 3:10 pm

    Bro your soccer pictures are crooked

  13. Avid Williams
    July 23, 2021 at 3:10 pm

    Hello, GREAT GREAT CHANNEL!! I own my home and want to get some funding for it. I also gutted one floor so I know when an appraiser comes through, the will suggest an FHA loan. What can you suggest and should I get a mortgage broker for this deal?

  14. Zhonore'
    July 23, 2021 at 3:10 pm

    What’s your thoughts on using credit unions. How do credit unions compare with brokers and banks

  15. Ajay Preston
    July 23, 2021 at 3:10 pm

    What’s the cost for a mortgage broker.

  16. Happened Happy
    July 23, 2021 at 3:10 pm

    How does a broker get paid?

  17. Wasif Kazi
    July 23, 2021 at 3:10 pm

    great content!

  18. emanairwalk
    July 23, 2021 at 3:10 pm

    I have heard that mortgage brokers tend to sell your mortgage to other vendors relatively fast.My friend had his mortgage provider switched over 4 times in a year causing minor increases but it made tax season an absolute nightmare. Can you elaborate on why this might be done and what the problem created during tax season becomes?

  19. Corey Douglas
    July 23, 2021 at 3:10 pm

    How to find a mortgage broker in my area ??

  20. Amy Wong
    July 23, 2021 at 3:10 pm

    I am a mortgage broker in Canada. Great video, pros and cons are well said!

  21. Jimmy Moonshine
    July 23, 2021 at 3:10 pm

    Should you see what other brokers have to offer, buddy says he doesn't trust the price his broker is giving him, thanks.

  22. Al Bundy
    July 23, 2021 at 3:10 pm

    Should buyers avoid direct lenders? not sure how to weigh this option

  23. Al Bundy
    July 23, 2021 at 3:10 pm

    Matt, this is great info. One thing that makes it a bit difficult to listen to is the background music because it's quite intense.

  24. diana chavez
    July 23, 2021 at 3:10 pm

    You have really nice lips 😊 thanks for the info 👌🏼

  25. Armando HX
    July 23, 2021 at 3:10 pm

    Hello Matt what’s is the normal cost for refinance ?

  26. OptoSigma Yamamoto
    July 23, 2021 at 3:10 pm

    Thank you! Useful advice!

  27. Ruben Perez
    July 23, 2021 at 3:10 pm

    Going thru same situation. Bank or loan officer/broker. Broker fee is 2k which he will include in the loan I believe that's how he put it. This is for a refinance. Unsure about the bank fee.

  28. Drive NYC
    July 23, 2021 at 3:10 pm

    Hi Matt I’m from NYC, the broker I’m working with is lending form United wholesale mortgage. Do you recommend them? they seem to have good reviews.

  29. Janine Hoke
    July 23, 2021 at 3:10 pm

    Thank you for this Matt….can you talk about loan servicing when a mortgage is sold? and do you serve Maryland?

  30. Richmindset Prez
    July 23, 2021 at 3:10 pm

    When a mortgage broker is running your credit, will all the inquiries pop up of the banks you're shopping to or will it just show as one inquiry through the mortgage broker?

  31. musiclover78able
    July 23, 2021 at 3:10 pm

    The mortgage broker fee is so outrageous when we applied for refinancing . Broker fee is $5k+ and the highest APR and still interest rate with direct lender and credit union is the same. Is this normal to have charge a broker fee aside from lender & origination fees?

  32. Kumar Kumar
    July 23, 2021 at 3:10 pm

    Do you offer heloc?

  33. Jennifer Branstad
    July 23, 2021 at 3:10 pm

    Great advice!