Should You Get A Mortgage From A Bank Or A Mortgage Broker?
Last updated on January 31, 2023 / By
There are pros and cons to both getting a mortgage from a bank and getting a mortgage through a mortgage broker.
One potential advantage of getting a mortgage from a bank is that you may be able to negotiate more favorable terms, such as a lower interest rate, if you have a strong relationship with the bank.
Additionally, banks often have a wide range of mortgage products available, so you may be able to find a mortgage that is tailored to your specific needs.
On the other hand, mortgage brokers have access to a wide range of lenders and mortgage products, so they may be able to find a mortgage that is a better fit for you.
Mortgage brokers can also save you time by doing the legwork of shopping around for the best mortgage rates and terms on your behalf.
However, mortgage brokers may charge fees for their services, so you should be aware of these costs before deciding to work with a mortgage broker.
Ultimately, the decision of whether to get a mortgage from a bank or a mortgage broker will depend on your individual circumstances and priorities. It may be helpful to shop around and compare offers from both banks and mortgage brokers before making a decision.
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This letter is a formal counter offer to the mortgage terms and conditions you sent me on DATE. I intend to make my mortgage payments on time, but I require lower monthly payments as my monthly income has reduced because my wife lost her job.
This letter is in reference to our phone conversation on DATE when I informed you that I wanted to cancel my mortgage and a formal notification in writing.
