Banker, Lender or Broker

Often times, consumers become confused about the best way to obtain a new loan. If you are buying a new home, refinancing an existing mortgage, or taking out a home equity loan or line of credit, there are many ways you can obtain financing. Below are the typical distribution channels a consumer can utilize to obtain a new loan:

Consumer Bank
Most traditional consumer banks provide home financing. Consumer Banks typically offer the consumer the ability to Purchase a Home, Refinance a Mortgage, or obtain a Home Equity Loan or Line of Credit. Consumer Banks may or may not Service (accept payments) the mortgage loan after the loan is funded. Consumer Banks not only offer mortgage products, they often offer Depository services and other types of financing.

Mortgage Bank/Lender
Most traditional Mortgage Bankers or Lenders provide home financing. Bankers/Lenders typically offer the consumer the ability to Purchase a Home, Refinance a Mortgage, or obtain a Reverse Mortgage. Mortgage Bankers/Lenders may or may not Service (accept payments) the mortgage loan after the loan is funded. Mortgage Bankers/Lenders specialize in Home Mortgage Financing.

Mortgage Broker
Most traditional Mortgage Brokers provide home financing. Mortgage Brokers typically offer the consumer the ability to Purchase a Home, Refinance a Mortgage, obtain a Home Equity Loan or Line of Credit, or obtain a Reverse Mortgage. Mortgage Brokers do not Service (accept payments) the mortgage loan after the loan is funded. Mortgage brokers have the ability to place a loan with both Commercial Banks and Mortgage Banks/Lenders. Mortgage Brokers specialize in every product offered when it comes to Home Mortgage Financing and have the flexibility necessary to match a client’s specific need to a specific product.

How do you know which Distribution Channel is best for you?

Our belief at Royal United Mortgage LLC is that every consumer should be given choices when it comes to taking out a new loan. By operating as a Mortgage Banker, our Loan Advisors have the flexibility they need to:

1. Ensure 100% of the time our customers receive the best available product and price in the market. We understand price is important and we know that consumers make better choices if they do not have to worry about price. Because our Loan Advisors have the ability to shop for our client’s, we are able to provide our customers with better product solutions and multiple loan advisers.
2. Ensure a customer’s loan is completed in a timely manner. Royal United has access to all the major consumer banks and lenders that specialize in mortgage financing. Because we process and underwrite the majority of our loans in house, we control the process and funding for our customer’s loan requests. The typical turnaround time from Application to Closing, for consumers who work with Royal United, is 15 calendar days.