Now more than ever, given the uncertainty in credit markets, it is important to choose a Mortgage Banker such as 1st Advantage Mortgage for your financing.  People have recently obtained financing from several different sources:  Retail Banks (your local Chase branch for example); Retail Lenders (your local Washington Mutual office, for example); Mortgage Brokers (where a third party shops your loans to various lenders who underwrite and fund your loan);  Mortgage Bankers, such as 1st Advantage Mortgage.

There is a misconception that we are a Mortgage Broker, and there is a distinct difference between a Mortgage Broker and a Mortgage Banker.


Granted, yes, at 1st Advantage we CAN function as a Mortgage Broker, meaning we can submit your loan to an outside lender if need be.  However, we function primarily as a Mortgage Banker, meaning we can UNDERWRITE your loan in-house and most importantly we can FUND your loan at the closing table, ensuring that money will be available to close in a timely manner.


The reason it is wise to use a Mortgage Banker today is simple:  a Mortgage Banker has more control, and more options for your loan scenario than any of the other alternatives.  If one program doesn’t work for you, we can likely switch you to another, without having to start over of incur additional costs.  Choosing the other options is like putting all your eggs in one basket and not in your best interests given current market instability.  Our primary control comes from the fact that the underwriting decisions are OURS and the money at your closing comes from US.


Whereas a Retail Bank typically offers only its own products, and at any moment can pull out of the lending business (or far worse, as we have witnessed the failure of banks such as Washington Mutual), in coming to 1st Advantage, if one of our investors/lenders pulls out of lending, we have others standing by eager to lend.


Whereas a Retail Lender offers only its own programs, 1st Advantage Mortgage offers most all of the lending programs available in the market place.


Whereas a Mortgage Broker has to rely on outside underwriters and closers, and is subject to their staffing, decision makers, and funding availability, 1st Advantage Mortgage performs all of these functions in our own offices and we deliver loan commitments and funding in order to meet your schedule, as agreed upon.


Ultimately, here is what differentiates us from any other lending alternative: Our first and foremost business line is residential mortgage lending; this is what we are set up to do, this is what our company is focused on, and we work to be the very best at it.  Coming to 1st Advantage Mortgage is truly one stop shopping; if there is a loan for your lending scenario, chances are that we have it.  And being one of the largest mortgage bankers in Illinois, our rates and terms are among the best you will find.


In these uncertain times, work with a Mortgage Banker who has your best interests in mind:  1st Advantage Mortgage.