Retail Banks
Recent market contraction has prompted banks to raise mortgage rates to cover purchase volume loss. The average rate now stands (but is not limited to) 4.49%. Banks generally build portfolios when lending, and have highly vetted consumer relationships.
Mortgage Banker
These bankers originate home mortgages with their own funds. They retain the option to keep the mortgage in their portfolios, or sell to another financial institution. The advantage of using a mortgage banker is having an entire home package serviced by one lending entity.
Mortgage Broker
These brokers are middlemen between home buyers and lending institutions. They faithfully take the wishes of a home buyers and find the best arrangements for all parties. Their services reveal many options some home buyers never consider.
Working with an agent, like Vahe Hayrapetian, who has decades of experience in facilitating home financing is the only way to navigate an uncertain real estate market. Buying a first home, or investment property becomes a truly wise only decision when an expert is on your side.
Sources:
https://www.auction.com/blog/financing-sources-for-real-estate-investors/#sthash.2zmdO6YM.dpbs
file:///C:/Documents%20and%20Settings/user/My%20Documents/Downloads/McKinsey_Retail%20Banking%20Insights5_Growing%20Mortgage%20Sales%20in%20a%20Diminished%20Purchase%20Market_2014%20(1).pdf
http://www.investopedia.com/terms/m/mortgagebanker.asp
http://www.thetruthaboutmortgage.com/what-is-a-mortgage-broker/s
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