United Poles Federal Credit Union

Home Buying Guide

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WHAT'S WHAT? L O A N O F F I C E R S V S . M O R T G A G E B R O K E R S If you've started researching the home-buying process, you've probably heard the terms "loan officer" and "mortgage broker." These professionals play similar roles, but are fundamentally different: • A LOAN OFFICER is an individual who works directly for a bank or credit union and offers loans from the financial institution that employs them. • A MORTGAGE BROKER is not associated with a particular bank or credit union. Instead, they research loans from a number of different sources and enter into mortgage contracts with various lenders.

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