Expert Advice – Not Quick Sales Talk

What is the difference between a bank and a broker?

Key Benefits

Bob and Carole were moving to a new area and needed to buy a home. They got advice from two of their friends. The first friend told them to call a bunch of banks to get their loan. "They are a bank – they have the money and the best rates in town."

So they called several banks. They were devastated by the news. The best deal they could get was a loan at a 10% interest rate and they had to have a 20% down payment. They couldn’t buy a house – they thought.

Bob and Carole had survived tragic family health problems four years ago – the good news, the bad news – their personal finances were wiped out. They had great credit – but no net worth. They had lost it all – over 15 years of systemized savings. But even through the tough times, they never missed a payment.

Fortunately for Bob and Carole, another friend referred them to Karen Bailey.

As a broker – similar to a travel agent – we at Karen Bailey were able to search a large database of loan products to find one that fit their situation.

We accurately documented their situation and were able to get them approved for a loan at 7.5% with only 3% down payment.