mortgage brokers: What are some of your options when looking for a mortgage?
- 04/08/15 12:19 AM
What's really your best choice when it comes to financing a home? When you begin your search for a new home loan, one of the first things to consider is where you'll get the money. Your basic choices will be mortgage brokers and banks. In order to understand the differences, let's look at how the lending process works in each case. Banks are given rates by their institutions, telling them what interest rates they can quote to their clients on any given day. There's only so much they can do with regard to interest rates, because it needs to remain profitable … (0 comments)
mortgage brokers: Selecting a mortgage company Part 1 of 4 What do mortgage brokers do?
- 06/24/14 05:13 AM
When it comes to choosing a mortgage company that you are going to choose its important to know who you are working with. A mortgage broker is usually an in-between company that has a contract with other mortgage lenders that agrees to pay them a fixed percentage on any loan that closes through their company. In this scenario a borrower/client meets with the mortgage broker, provides documents and the loan originator discusses the programs, rates, fees etc... for the particular lender that best suits the clients needs. Assuming that the client qualifies, the Loan Originator sends the file to his/her loan processor and the file usually goes … (8 comments)
What's really your best choice when it comes to financing a home? When you begin your search for a new home loan, one of the first things to consider is where you'll get the money. Your basic choices will be mortgage brokers and banks.
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