Compare offers, not labels
The word broker, bank, retail, or wholesale does not tell you the final rate, payment, fees, or service outcome. Compare actual lender-confirmed offers generated for the same borrower and property details.
Keep the assumptions identical
Rate quotes should share the same loan amount, property value, credit profile, purpose, program, term, occupancy, points, lock period, and estimated closing date. Otherwise the comparison can be misleading.
Measure the consumer’s chosen time horizon
A higher upfront cost can make sense when it creates enough monthly savings before the consumer expects to sell, refinance, or pay off the mortgage. Lenny makes that break-even visible.
What could change the answer?
- The bank’s and broker’s available programs and pricing at the same moment.
- Points, credits, lender fees, lock period, and closing timeline.
- The consumer’s cash-at-closing and monthly-payment priorities.
- How long the consumer expects to keep the loan.