Article: New Home Loan - Understand The Various Types Of Mortgage Lenders
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New Home Loan - Understand The Various Types Of Mortgage Lenders
So, you?ve decided to buy a house, and you?re ready for that all important next step?applying for a mortgage loan. But where should you go? After all, the mortgage business is complex, and you?ve realized quickly that your choices for lenders are immense. Here?s a quick guide to help you understand all of your choices for lenders.
Mortgage Banker
By using a mortgage banker, you will deal with the same person from the beginning to the end of the loan process. The mortgage banker makes his money from the fees that you will pay for the loan, such as the points and closing fees. After you?ve closed on the loan, you may continue your relationship with the same company, or they may sell your loan to a secondary person.
Mortgage Broker
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