License & Permit Bonds

Real Estate Agents vs. Mortgage Brokers


Both real estate agents and mortgage brokers work to help buyers purchase physical property. But what are the differences between the two?

The two help toward the same goal of obtaining physical property, but mortgage brokers work more on finding clients the best interest rate and terms for a mortgage of the physical property they are buying. They have to constantly do research to find the best and latest rates and loan terms while looking out for their clients’ overall best interests. Knowledge of credit and lending rates are musts.

Real estate agents, on the other hand, present houses and properties and act as a go between for buyers and sellers. They have to follow the real estate market and sometimes provide financing info, but that falls more on the mortgage broker side of the equation.

So if you want to become a mortgage broker, know that you’re going to be working more on the terms of an agreement to obtain a property rather than finding the property to buy itself.

Mortgage brokers are often required to obtain surety bonds in order to guarantee that the mortgage broker faithfully looks out for their clients’ best interest while following the applicable state law.

Purchase Mortgage Broker Bonds

Colonial Surety prides ourselves with our easy-to-use digital method to obtain a mortgage broker bond. Simply get your quote online, enter in your information and payment method, and instantly have your bond! Contact us today to learn more about the bonding process.