Lori David Boone, Associate Broker, MRP, SRS, RENE, eXp RealtyPhone: (334) 669-9698
Email: [email protected]
Email: [email protected]
At first, it might seem tricky to differentiate a mortgage broker vs lender. After all, both provide mortgage loans. While both brokers and individual lenders can help you with the same service, there are some important differences homeowners should be aware of.
Here is a basic guide to the difference between direct lenders and mortgage brokers:
A mortgage broker connects borrowers and lenders, while the mortgage lender - a bank or financial institution - deals directly with the borrower. Brokers can help you with comparison shopping for different rates and facilitate the application process.
Working with mortgage lenders directly means you are in full control of every step of the journey - and any associated hassle.
Brokers are usually paid on a fee-based schedule, while lenders make their money through a variety of different fees and charges. Origination fees and interest are major examples of how lenders are compensated.
Choosing between a mortgage broker or a direct lender depends on a number of factors and personal preferences. A broker can be the more convenient choice for many borrowers, as they handle the process of contacting different lenders to find a good fit. However, for those who want full control of the homebuying process, going straight to the bank might be a better choice.
One thing to keep in mind is some lenders work exclusively with mortgage brokers, and some brokers are exclusive with certain lenders. This could mean working with a broker may limit your choices of lender and vice versa.
However, if you place a high value on convenience, a mortgage broker can save you significant time and effort in the mortgage process. If you prefer contacting each direct lender to crunch the numbers yourself, skip the broker and work directly with a bank or institution of choice.
Lori David Boone is a highly skilled Associate Broker with advanced real estate designations, including GRI (Graduate, REALTOR® Institute), MRP (Military Relocation Professional), SRS (Seller Representative Specialist), and RENE (Real Estate Negotiation Expert). Lori leverages her extensive legal background and market knowledge to provide high-quality representation for clients buying or selling real estate in the River Region. Her approach is built on strong negotiation skills, marketing expertise, and a commitment to smooth transactions. Currently affiliated with eXp Realty, Lori specializes in the River Region real estate market (Montgomery, Pike Road, Prattville and Wetumpka) , providing comprehensive services from initial consultation to closing.
Lori’s real estate career is distinguished by her dedication to market research and staying updated on the latest industry trends and best practices. Her expertise extends beyond traditional real estate roles, as she is skilled in property listing, market analysis, and creating effective promotional strategies that drive results. She takes pride in building lasting relationships with clients, listening closely to their needs, and delivering personalized solutions that make the buying or selling process as stress-free as possible.
In addition to her real estate credentials, Lori holds a Juris Doctorate and a Bachelor of Arts in English and Mass Communication, which further strengthens her communication and negotiation skills. These qualities, combined with her commitment to excellent service, make her a trusted advisor for both first-time buyers and seasoned investors.
With a passion for helping her clients achieve their real estate goals, Lori continues to be a top choice in the River Region for anyone seeking professional, reliable, and results-driven real estate services.
Reach out to Lori for personalized real estate services backed by a comprehensive understanding of the market and the highest professional standards.