mortgage broker vs. bank

Mortgage Broker vs. Bank

Who’s Better – The Mortgage Broker or The Bank?

Deciding to buy a home means that there will be countless choices coming your way. One of the biggest factors involved with becoming a new homeowner is your mortgage – and with that comes the decision of either working with a mortgage broker or the bank. So, how do you decide which is the best mortgage loan broker for you? At River City Financial we know from first-hand experience that the mortgage broker is here to work for you – the bank isn’t.

Choosing the right mortgage is critical when you’re determining long-term savings and financial goals. Understanding your current financial health and making the best strategic home loan for your future is crucial when deciding on mortgage rates and terms. This is where the value of working with a professional mortgage broker comes into play.

Having someone who objectively works for you and is not limited to mortgage product offerings from one source is a huge benefit and something that a bank cannot offer. Our team provides our clients with expert advice on choosing the right mortgage options. We analyze the interest rate, payment privileges, payment penalties, long-term savings and much more to determine your options.

Take a look at the key issues when comparing a Mortgage Broker vs. Bank:

Mortgage Rates

River City Financial Mortgage Broker: We offer you the lowest rate that is currently in the market- sourced from dozens of different institutions. Our team can also guarantee you an interest rate for 90-120 days.
The Bank: A bank can only offer you mortgage rates that are connected to their bank. They will not be able to propose a better deal from another institution’s products – even if it is better suited for your financial needs.

Product Choice & Access

River City Financial Mortgage Broker: We have access to 50+ multiple lenders, INCLUDING major banks, credit unions, and other mortgage industry lenders. Plus, our team regularly offers rate promotions.
The Bank: Banks can only offer you limited access to their bank’s line of mortgage products.

Independence & Objectivity

River City Financial Mortgage Broker: Our professional team works for you – the Client! Your personal financial goals are our main focus and we will work closely with you to bring you the best options possible.
The Bank: Their team works for the Bank.

Ongoing Services

River City Financial Mortgage Broker: Our mortgage brokers will keep in touch with clients throughout their mortgage term for annual reviews, refinancing, renovation financing or debt consolidation.
The Bank: Don’t expect much follow up during your mortgage term from a bank – you’ll receive an annual statement and notice for your mortgage renewal in the mail.


River City Financial Mortgage Broker: There’s no cost! The financial institution that funds your mortgage pays our mortgage brokers. You won’t have to worry about any mortgage broker fees tagged along with our professional and tailored services.
The Bank: No cost; however this is based on qualified applications.



mortgage broker vs. bank

Image courtesy of Stuart Miles /

When it comes to the pros and cons of a Mortgage Broker vs. Bank, a Mortgage Broker will always come out on top for one main reason:

It is mutually beneficial for a mortgage broker to get you the best mortgage rate on the market!

Working with a mortgage broker at River City Financial means you’ll never have to worry about there being a better mortgage on the market. Our team will work closely with you and your financial needs to ensure we have the best mortgage in place for your lifestyle. please contact us today and we will work together towards finding your personal mortgage solutions.


River City Financial

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