Mortgage Brokers and Loan Officers: Understanding Your Options

When shopping for a mortgage, you can work with a mortgage brokerage or directly with a lender. Both can help you obtain financing. The important differences are the loan options available, the costs, and the service you receive.

What does a mortgage broker do?

A mortgage broker helps connect borrowers with lenders. Rather than offering only one lender’s programs, a brokerage can compare options across its lender network.

At Platinum Advantage Mortgage, we review your financial circumstances and goals, explain available mortgage options, and help you compare rates, points, lender credits, and closing costs.

Once you select an option, we help prepare your application and coordinate with the lender and other professionals involved in your closing. The lender makes the underwriting and final approval decisions.

Our lender network does not include every lender or mortgage product available in the market.

What does a loan officer do?

A loan officer helps borrowers understand mortgage options and guides them through the application process. Loan officers may work for banks, credit unions, mortgage lenders, or mortgage brokerages.

A loan officer employed by a direct lender generally offers that institution’s available programs. Those programs may cover a wide range of borrower needs. Service and processing procedures vary by company.

How is a mortgage broker paid?

Mortgage broker compensation may be paid by the lender or directly by the borrower, depending on the arrangement and applicable rules. For consumer mortgages covered by federal compensation rules, a broker cannot receive compensation from both the borrower and the lender on the same loan.

Lender-paid compensation does not mean a mortgage has no costs. Ask how compensation affects the rate and upfront charges, and review your Loan Estimate and other required disclosures.

Why work with Platinum Advantage Mortgage?

I bring more than 30 years of residential and commercial lending experience. My team and I help buyers and homeowners throughout Florida understand their financing options, including situations involving self-employment or more complex income.

Our approach combines access to multiple wholesale lenders with clear explanations and personal attention.

Compare before you choose

A referral from your Realtor, builder, or another trusted professional can be a helpful starting point. You can also explore other financing options.

Compare similar loan offers, including the interest rate, APR, points, lender credits, closing costs, and service. If a builder offers an incentive tied to its preferred lender, include that incentive and its conditions in your comparison.

Ready to discuss buying or refinancing?

Call 407-341-4313 or email rjolley@platinumadm.com.

Loan approval is subject to lender underwriting requirements. Rates, terms, and program availability are subject to change.