What’s the Difference Between a Banker and a Broker?

Wednesday, January 13, 2016 | 8:41 pm

Although this question may sound like the beginning of a riddle, the difference between a banker and a broker is an essential question potential home buyers should all know the answer to.

Both a banker and a broker work towards getting you a home loan but, as Waleed Delawari, President of Delaware Pacific, explained a banker has allegiance to an institution while a broker has a flexibility to “shop around” for the best deal and fit for their client.

Delawari adds that a broker is the best choice for a first-time home buyer because they can give more personalized attention and even create a home loan plan. Brokers work closely with loan-seekers rather than loan-makers.

If you have more questions about what makes a broker different than a banker consult with Delaware Pacific. They are located at 959 E. Walnut St. Suite 250 in Pasadena and can be reached by calling (626) 486-1775. You can visit them at www.delgrp.com.

 

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