This is a great question – is it better to get a mortgage from a bank or mortgage company. There are benefits and short comings with any mortgage product, be it from a mortgage company, or from a bank.
The key is, understanding your situation. Being crystal clear on your goals, not only for the short term, but medium term and also the long term.
Once you are crystal clear on your goals, you also want understand your demographics. Banks collect information, and they use this information to make money off of you. Understand what the average person in your situation does, can be very valuable.
With the above information, you can then review products and offers from each lender. You can identify the best product for you a lot more clearly now.
Generally speaking, if you do not have any special requirements, such as a home equity line of credit, or you absolutely require to have a building that you need to go into such as a bank, a mortgage from a mortgage company is going to offer you more reasonable costs, and the fine print is a lot more clear.
This information is also changing all of the time. A good mortgage broker is on top of all of this and can help guide you through everything so that you can use your time wisely.