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Is a Mortgage Broker Your Best Choice?

Image of mortgage broker and client doing paperworkWhen we work with buyers, one of the most common questions they ask is, “Who is the best mortgage broker to work with?” Our clients are usually surprised to hear that a mortgage broker may not be their best option. So, who do we recommend? A mortgage banker.

If you’re not sure of the difference between a mortgage broker and a mortgage banker, you’re not alone. Most people use the terms “mortgage broker” and “mortgage banker” interchangeably. In reality, they are two very different things.

Mortgage Broker

A mortgage broker deals with many different wholesale lenders. The broker is an independent operator and can be a one-person office or a large organization with different loan agents acting under the one broker’s license, much like how a real estate office works. Mortgage brokers do not have affiliation with any one company. As a result, they are at the whim of the individual wholesale lenders guidelines, overlays, timeframes, and underwriters. Often, they don’t have strong relationships with underwriters, and communication is not encouraged.

Mortgage Banker

Image of an approved mortgage loan application with house key and rubber stampA mortgage banker is also called a correspondent lender. Mortgage bankers are independent offices working under a corporate umbrella where they underwrite and fund/close their loans in their own name.  They retain the servicing of the loans or they sell the servicing after closing. Mortgage bankers often have deep relationships with their underwriters, who are dedicated to the team at the mortgage banker’s office. They work in concert with underwriters to ensure each and every possible loan reaches the closing table.

Which is Better?

So which is better, the mortgage broker or the mortgage banker? While the mortgage broker might have been a competitive choice in the past, today’s mortgage programs are more commoditized, which means you really need a mortgage banker working for you. By having a mortgage banker in control of your home loan process, you’ll get better service, more competitive pricing, and often a faster path to closing on the loan.

Remember, you can find many great tips for home buyers on our Facebook page. If you’re thinking about buying a home, we can help! Contact us today! And if you’re ready to apply for a mortgage, we have the perfect resource for you.

 

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Welcome

Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Welcome! We are glad you’re here. We developed this website to give you the most up-to-date Napa Valley real estate listings and the most reliable information for home buyers and sellers.

Not sure where to start? Check out our blog, vlog, and articles for information on buying and selling a home, design and staging tips, and real estate investor information.

Ready to buy? Be sure to browse our current listings.We are eager to show you your next Napa Valley home.

Relocating to the area? Read up on all the great communities that make up Napa Valley.

Is it time to sell your home? Why not have the #1 real estate team represent you?

We’re sure you have questions. And we are here to help. Contact us for information on anything real estate related.

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About Us

Leading the Pujals team are Jerry and Susan Pujals, who is ranked as the #1 Sales Team for California, Coldwell Banker Brokers of the Valley. Jerry, a Senior Broker, and Real Estate Advisor began his career in real estate with Coldwell Banker Brokers of the Valley in 1997. Susan, a seasoned Real Estate Sales Consultant joined the organization in 2008, which established the formation of The Pujals Team.

Having received national recognition for their performance and many local awards, Jerry and Susan are proud to be affiliated with Coldwell Banker Brokers of the Valley, Napa County’s real estate market leader for more than 20 years.[Read more]

Reviews
“Jerry and his associates are the best! Jerry cares for the individual taking in consideration what the person wants and cares for, making the best choices for you. I truly recommend them because they treat you as family and they make the process so easy for you. They are one of a kind!! We decided...” - Lucy Arreola Read More
“Jerry and Susan Pujals are adept at representing both sellers and buyers in this fast-paced Napa market. We’ve seen their work, both as sellers and buyers, and can affirm they shine in both arenas. The Pujals team just finished helping us through multiple real estate transactions: two homes prepared, listed and sold, and one home...” - Jane Callier Read More