Lynn Butterfield, Coldwell Banker Harris McHaney & Faucette-RogersPhone: (801) 550-6334
Email: [email protected]
Email: [email protected]
As you prepare to purchase a home, you may find yourself working with many real estate professionals to help you seal the deal.
Researching mortgage loan options, you’ll find the terms mortgage broker and mortgage banker come up frequently. Understanding these terms can help you get a better grasp on your financial needs and help you figure out which professional is best suited to aid in your homebuying experience.
Mortgage bankers are employed under a single lender to provide loan products and work with clients to find the best mortgage solutions, as well as help clients apply for loans. They also gather borrower financial data and run checks to see if clients qualify for their lenders loan products.
If you’ve heard of a mortgage banker, then you may have also heard of a mortgage broker. Even though the two terms seem similar, there are differences between the two professions.
Whereas a mortgage banker works for a singular financial institution, a mortgage broker partners with multiple lenders to offer clients a wide range of financial options. A mortgage broker acts as a bridge between the loan borrower and lenders. Once the borrower is approved for the loan, the broker has completed their role in the transaction.
Mortgage bankers are typically paid from salary and may make a small percentage of commission (1-2 percent) from the loan agreement.
Whether you decide to partner with a mortgage banker or broker, having professional guidance can help you understand loan terms and figure out the best solution for your home financing.
Lynn Butterfield is an Associate Broker at Coldwell Banker and is a Certified Real Estate Negotiator. Mr. Butterfield has 41 years of experience in real estate sales and development. His vast experience ranges from luxury sales through commercial sales and leasing. Perhaps more importantly, he focuses his attention on client success, whether he's helping someone buy their first home, or working with a developer seeking assistance to create and position a large project in the marketplace. One recent client said, "Working with Lynn is almost like working with a Real Estate Attorney, because he knows exactly what to look for, so you can be protected!" Another first-time home buyer just said, "I needed someone to hold my hand through this because it's the largest investment we'll ever make! I know he isn't in this just to make a quick buck. He really cares about his clients!"
Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. He would be honored to put his real estate experience to work for you.
