PMP vs. local banks and mortgage brokers

Our advantages over local banks:

1. Access to multiple lenders. Local banks generally don't have multiple lending sources -- they rely on a couple of partner institutions for their mortgage business. As you've no doubt heard, lenders will compete for your business!  PMP works with over 70 different lending institutions to find better deals.
2. A commitment to service. Banks generally offer mortgages to bank customers as an ancillary service; it's not their primary focus. Often, you will be simply "passed off" to their partner after a single conversation. At PMP, our Loan Officers have a single, proven successful purpose: Mortgage Banking!

Our advantages over mortgage brokers:

1. Access to better rates. Mortgage brokers claim to have access to many different loan sources, and they do. However, the large national lenders that offer the best rates only offer them to mortgage bankers. For example, we sell many of our loans directly to Freddie Mac (the government-run home financing institution). Your local mortgage broker can't do that. It's the difference between paying wholesale and retail.
2. More control over the entire lending process: As a mortgage banker, we will prepare your closing documents ourselves and provide the funds for your closing with our own check. We are not at the mercy of a third party for these services. In many cases, we can also approve your loan ourselves, without sending it out to a lender for review. Mortgage brokers rely on the end lender for these services, which means less control over the entire lending process.