6 Types Of Mortgage Providers
When it comes to financing your mortgage, trying to navigate the labyrinth of lenders can get confusing. Like any significant financial transaction, there are advantages and disadvantages that come with each type of lender.
Get started by asking your realtor for referrals. With a large commission at stake, realtors have the right sort of incentive to refer you to specific loan officers or brokers who have proven track records of getting loans approved quickly and at competitive rates, or who have experienced success with unique financial circumstances that are similar to yours. Second, having a solid understanding of the various players and their roles in the market will help prepare you for the process. To enhance this understanding, we provide the following overview:
1. Mortgage Bankers or Mortgage Lenders tend to be larger financial institutions — trusted national brands — that originate loans and sell them to Fannie Mae, Fred...
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