By Neena Vlamis, President of A and N Mortgage

There are several vital professionals you will require in order to find a home you want to buy, apply for a home loan, and purchase it. Most people are not sure whether they should talk to a realtor or mortgage broker first. To help you decide, let’s look at the pros and cons below.

Realtor First?

If you like hitting up open houses to get a feel of current homes in your area, you will Mortgage Broker vs Realtorencounter a realtor first, and this okay. Just keep in mind, the realtor you meet is the seller’s agent and is there to sell the home.

At some point, you will need your own realtor to act as your buyer’s agent. After an initial consultation to determine your needs, they will almost always request you sign a contract, typically for a 6-month period, during which time you cannot enlist the services of another realtor until your contract expires.


  • Lets you find out what types of homes are currently available on the market and their price ranges.
  • Helps you determine whether you have saved up a large enough down payment.


  • You and your realtor do not have an accurate picture of how much home you can afford.
  • You could be wasting time looking at properties outside of your price range.

Mortgage Broker First?

Ideally, you will want to contact a mortgage broker first, before finding a realtor. Purchasing a home is a major purchase and involves your personal finances. Your broker is a valuable resource of information to learn more about the processes of buying a home, including appraisals, closing costs, points, and so on.


  • You can get pre-approved or pre-authorized for your mortgage. Pre-approvals give you an estimate of how much home you can afford. Pre-authorizations provide you a dollar amount to work with while shopping for your new home.
  • You learn about the different rules regarding the different costs of buying a home. Your broker will explain various rules in the real estate and mortgage industries. For instance, you cannot borrow money and use this for your down payment, yet you can use monetary gifts, as long as they are documented, for the down payment.
  • You will have a solid mortgage team in place ahead of time. Home buyers that put this process off until later tend to run into issues when it comes time to obtain financing.


There are really no cons to speaking with a mortgage broker first. They will help save you time shopping for your new home because you will know:

  • How much home you can afford. Buying a Home in Chicago
  • How large of a down payment you will need.
  • An estimate of your closing costs.
  • An estimate of other related costs, like inspections.
  • Different loan program options.

To learn more about mortgage processes, including getting pre-approved, please feel free to contact A and N Mortgage at (773) 305-LOAN (773-305-5626) to speak with one of our Chicago mortgage brokers today!

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