Thursday, June 1, 2017

Why Brokers Are Better Than Banks

Pamela Madore 
Pamela Madore Mortgage
3955 S. Soncy
Amarillo, TX 79119

Why Brokers Are Better Than Bank

To my knowledge, I am the only Mortgage Broker in Amarillo.  Sounds crazy doesn't it?  When I moved to Amarillo from Florida I left a place where there  were only Mortgage Brokers to a place where the term was foreign.

Let me explain the difference.  Banks and lenders have a limited amount of programs and guidelines they have to follow.  For instance,  one bank may have a minimum credit score of 620.  If your score isn't 620 then you have to try to find another bank or lender that will work with you with a lower score.  

So now you have found a lender that will go with a lower score but since you are self-employed you don't show enough income to qualify.  Now you have to go and try to find another lender. And it can go on and on.

What a mortgage broker does is shop for you.  Sort of like the Amazon of mortgages.  At my disposal I have literally hundreds of programs available.  So instead of going to three banks and a lender, you come to me and I "shop 'til I drop".  I run one credit report instead of 3 or 4 and I stay with you from beginning to end.  Since I have to sort through a number of programs to find one for you,  you may have to give me a day or two to find the best result.

In addition, since I have many lenders that I work with and they all want my business,  I am sometimes able to beat the best bank rates in Amarillo!

So let me do the work for you.  Let me do the shopping.  I am a great shopper!

Pamela Madore
Mortgage Loan Originator
3955 S Soncy  Rd
Amarillo TX 79119

Pamela Madore - NMLS# 289635 , Pamela Madore Mortgage - NMLS# 1560825

Unconventional Mortgage may require a higher down payment and borrowers must meet certain underwriting guidelines and criteria which may vary per person. Please call Pamela Madore for details.