Tim Bradford 216-324-8113

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Use Bank or Broker?

American Midwest Mortgage is a Mortgage Banker

The question to use a Mortgage Banker, Mortgage Broker or your Local Bank is not really the question you should be asking.  The questions really should be

"Where will you get the best loan terms (Loan Program, Rate & Closing Costs)
with the service, experience and professionalism that you expect."  

As a Mortgage Banker, AMMC will Process, Approve, Close and Fund your mortgage loan.  This is done in the same way your Local Bank operates.  Again choosing where to apply will depend on the Best Loan Term and the Service you receive.  Your local bank has one group of products and rates available, As a Mortgage Banker we have the products, programs and rates of many lenders.  This allows AMMC to match your needs with the best loan product with the best overall terms.  Also, because we only do Mortgage Loans we process loans more efficiently.     

Mortgage Brokers operate very similar to Mortgage Bankers, except the Approval, Closing and Funding of your loan is done by a third party.  Summarizing this:

  • A Mortgage Banker is a company that has a staff of processors and underwriters on staff that will Process, Underwrites and Close your loan.    
  • A Mortgage Broker is a company that utilizes the services of a Mortgage Banker to provide for the ultimate processing, underwriting and Closing of the Loans.
  • Either a Banker or a Broker can offer Programs, Rates and Closing Costs of only one Lender or Multiple Lenders.   
  • Your Local Bank will offer the Programs, Rates and Closings Costs as determined by the management of the Local Bank.  This may or may not be the best loan product for you.
  • Mortgage Bankers and Mortgage Brokers are licensed and registered with the National Mortgage Licensing and Registry System.   Bankers and Brokers must pass Background, Fingerprint and Educational requirements.   Employees at the Local Bank need only be registered with the NMLS.  

 If you are looking for the a great loan program that might include Gift Funds, Grant Funds or Tax Credit Programs, give me a call and based upon my knowledge and expertise, I will gladly present to you programs and rates that "Will Fit you Perfectly" 

Timothy Bradford, Loan Officer
American Midwest Mortgage Corporation
6363 York Road, Suite 300, Parma Heights, OH  44130
Direct:  (216) 324-8113
Cell:  (216) 324-8113
Office:  (440) 884-5000 Ext. 269
Fax:  (440) 884-5034
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