Can Your Mortgage Broker Do It All, Even Reverse Mortgages?

Talking to an independent mortgage broker for your next purchase or refinance, or reverse mortgage is always a good decision. In fact, recent data shows that many borrowers are turning away from the bigger banks in favor of non-bank lenders.

Mortgage brokers have access to more product and better pricing than most of the bigger banks and specialty reverse mortgage institutions advertising on TV and Radio. 

In 2011, the three largest national banks loaned 50% of all new mortgage money in the United States1. Fast forward just five years, the percentage dropped to just 21% for the same three entities1.

This trend makes it clear that borrowers seem to prefer working with independent mortgage brokers. But contrary to popular belief not all mortgage brokers offer the same services. 

Many mortgage brokers only offer a handful of solutions which can make it hard to decide on which option might be best for you. 

For example, you don’t want a broker that only offers forward mortgage products if what you really need is a reverse mortgage, or vice versa.

To get the best bang for your buck, it’s always smart to go with a mortgage broker that can do it all. By choosing a broker who offers multiple financing solutions, you get more flexibility to choose how you want to structure your next loan.

If you are on the prowl to find that perfect mortgage broker to partner with, here are a few reasons why you should choose a broker that can do it all.

Knowledge is Power

When you choose to work with independent mortgage broker you will get access to several financing options that other retail reverse mortgage banks might not be able to offer. 

Utilizing a provider that offers such a broad scope of options is extremely helpful because it provides you with the opportunity to analyze all your options upfront. For example, it can be easy to get a reverse mortgage, but it can be hard to get out of one.

But there is another benefit to being able to compare all your options upfront and that is being able to run different pricing scenarios. Calculating which option will net you or save you the most money is important because it will impact your household budget. 

Flexibility is Key

People come from all different types of backgrounds and walks of life. Similarly, no two days are ever the exact same, meaning you must constantly shift and adapt to unexpected life events.

One of the best reasons to work with a mortgage broker that can offer both forward and reverse mortgage solutions is that at any point you can pivot to a different solution. 

You need a broker that understands people’s needs change all the time. Flexibility is something you want to retain when you are making the decision which mortgage broker you want to work with. In almost all cases an all-in-one broker will be the best choice.

Don’t Sacrifice Time and Quality

Getting a new mortgage is not free. But outside hard costs, it’s important to analyze other costs associated with obtaining a new mortgage loan. 

No matter who you talk to, people will often say that time is money. Wasting time searching for two providers to compare options and quotes because neither, by themselves, offer a full comprehensive suite of solutions for you to compare makes no sense.

Using a mortgage broker that can do both forward and reverse mortgages will save you a lot of time searching for multiple providers. On top of that, the number of solutions they offer is a testament to their knowledge and expertise in the space.

Furthermore, having a go to person that knows your financial background for subsequent transactions will save you even more time in the future. 

You will also get peace of mind knowing you are working with someone you trust and that you have already had a successful track record with. 


1 Lerner, M. (2017, February 23). The mortgage market is now dominated by non-bank lenders. Retrieved April 23, 2021, from

Garrick Werdmuller
(510) 282-5456