Personal Mortgage Banker Vs. Big Banks: What’s the Difference?


Jul 22, 2021 Homebuyer blog

Most homebuyers turn to big banks when applying for a home loan. That’s usually the case since most buyers aren’t aware of the other options available to them. One of these options is a personal mortgage banker.

A personal mortgage banker may be an unfamiliar route for some, but it sure has its benefits. While there’s no way to say that one is better than the other, it helps to know the difference between the two so homebuyers can come up with guided decisions.

Brandon Brotsky of Reach Home Loans, one of Florida’s most sought-after mortgage lenders, discusses the difference between a personal mortgage banker and a big bank regarding home loans. This way, you get to arrive at a decision that is beneficial for you.


The level of service you get from a personal mortgage banker and a big bank may differ, especially with how you can access them. If you’re someone whose working hours does not coincide with banking hours, the bank will not adjust their time for you. On the other hand, a personal mortgage banker will work their way around your schedule.

“Working with a big bank might not be right for you because they have set banking hours… your traditional nine to five. Where someone like myself is available around the clock based on your schedule.”


Calling a bank means calling into a mainline. It’s also less personal since you’ll be identified through your loan number and have to be asked to repeat personal information again and again to pull your file. On the flip side, when you call a personal mortgage banker on their mobile phone, they’ll be the one answering the phone, and they know who you are right away. Which saves a lot of time and headache.

“There’s no guessing who I’m speaking with. There’s no trying to get the same person on the phone on our end for you every single time. We know exactly what’s going on with your loan at any given moment.”

Expertise Level

Most people don’t know that the bank employees handling your mortgage are not required to get individual state mortgage licenses. Whereas a personal mortgage banker is required to be licensed in every state that he plans to do transactions in.

“I’ve had to go through more study. And take more classes and tests in order to qualify to be able to provide you with financing. So expertise is key.”


Banks follow guidelines and overlays, which are another set of guidelines on top of the previous guidelines. They’ll quote you the interest rates and costs which are applied to almost all of their borrowers. However, personal mortgage bankers do not have overlays to follow on top of their guidelines, which adds to their flexibility.

“Although we as a lender have to follow specific guidelines as well, we don’t have something called overlays to those guidelines. A lot of the big banks do.”

Personal mortgage bankers have a lot more flexibility in interest rates since they have no overlays on top of their guidelines rather than banks that are less flexible with rates.

“We can meet or beat any interest rate being offered by another big bank, credit union… or even another local lender.”

The overall cost is usually determined by the factors stated above, such as guidelines, overlays, and interest rates. That’s why personal mortgage bankers can also be more flexible when it comes to costs than big banks.

“The same thing goes for costs. We have full flexibility when it comes to that for our clients.”

Application Process

Some big banks may outsource some aspects of the loan application process. This can often make the process longer, while also bringing in more people into the mix who are not entirely familiar with the borrower’s situation.

On the other hand, a personal mortgage banker handles the whole application process internally, which results in a quicker process and is managed by the same people from start to finish.

“We have the same team handling your loan from start to finish. So we know exactly what’s going on with your loan from the very beginning all the way through the very end of the process.”

Closing Thoughts

Some homebuyers may feel more comfortable working with big banks, and that’s perfectly fine. But it also pays to be informed about other options when applying for a home loan. If you’re looking for more flexibility regarding schedule, rates, and costs, and a faster application process, then a personal mortgage banker may just be the right fit for you.

If you’d like to know your options for a home loan, Reach Home Loans is more than happy to help. Call us now at 954-703-1465 to get started!

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