Adam Preston,Broker
License #01873127 & 01768403
NMLS ID # 345989 & 346148
Grand Avenue Realty & Lending Inc.
Phone (714) 925-2020
Fax (714) 242-1726
Email apreston@grandavenueca.com
Website www.adampreston.com
Website www.newcenturyca.com
Grand Avenue Realty & Lending Inc.
4420 E Miraloma Ave STE L
Anaheim CA 92807

Mortgage Brokers VS Banks....Facts Consumers MUST Know

Did you know?
There is question on the National & State NMLS lending exam that asks...Which entity is best suited to meet all the borrowers needs and goals while taking into account there financial situation and need for the best financing solutions? The answer is MORTAGAGE BROKERS....not banks.

The Best Rates & Fees
Brokers can offer their borrowers WHOLESALE rates and also compare with numerous different lenders to make sure your getting the lowest interest rate and fess. Banks cannot do this. They can only offer you whatever is on their rate sheet which are RETAIL rates since you are going into a retail branch. Don't pay retail when you don't have to. Brokers can qualify thier borrowers based on every lenders guidelines. In the even of a loan decline, brokers can submit the file to others lenders and rather than just reject it as a bank would do to you.

Fees Charged to Borrowers
Banks do not have to disclose all of the fees charged including the yield spread premium (rebate) which makes it very easy for them to charge excessive fees to you without you even knowing. Brokers are required to disclose EVERYTHING including the yield spread premium (rebate) which makes it impossible to charge any fees that are not visible on all settlement statements.

Did you know?
Loan officers that work inside banks are not required to pass the National & State tests required by the DRE & NMLS to conduct loans. They are only required to be registered. Which means that the qualifications of knowledge is basically 0. You may find yourself obtaining a loan from someone who only has basic knowledge on finance. The Mortgage broker is with out a doubt the best choice for anyone obtaining financing.