Mortgage Broker vs. Loan Officer

When you're looking to get a mortgage loan, you may work with a loan officer or you may choose to work with a Mortgage Broker. People often confuse the two job types even though both will glean the same results: a new home. However, it is important to understand the difference between the two types of jobs so you know what to expect from them during the mortgage application process.

A mortgage broker is an individual or firm that acts as an independent agent for both the borrower and the lender of a mortgage loan.

Mortgage Brokers are the middle man between you and the lending institution, which can be a bank, trust company, credit union, mortgage corporation, finance company or even an individual private investor. A Mortgage Broker will analyze your financial situation to determine which lender is the best fit for your loan needs. He or she will submit your mortgage application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. He or she receives a commission from the borrower only if the loan closes.

A loan officer is a representative of a lending institution, such as a bank, who works to sell and process mortgages and other loans originated by their employer. They often have a few variety of loans types to draw from, but all originate from that specific lender.

Also known as a loan representative or account executive, loan officers represent the borrower to the lending institution and will guide him or her through their limited selection, processing and closing of mortgage loan. Loan officers can be paid a commission or salary for their services, so think what kind of service you may expect.

We at AMCI-Mortgage are very proud to be a Licensed Mortgage Brokerage Business in the State of Florida, because this way we may offer our customers many competitive products. We work with all major Lenders and Banks and we have been doing this for many, many years.

All situations are different, not matter to us if you have a downpayment, no downpayment, not credit, bruised credit, a first time home buyer etc., We are here to assist you and we look forward to close every loan.

Please make sure to consult one of our Licensed Experienced Mortgage Brokers.. You'll be glad you did...

You can expect from AMCI - Mortgage the Most honest and  Outstanding Service.

In Florida you can Reach us at  1-888-412-9177 in the Miami area  305-663-1690

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