It's good to know the difference between a mortgage broker and mortgage lender. Mortgage brokers are middlemen. They have no money to lend you, but approach mortgage lenders for a mortgage. They are professional mortgage shoppers.
Mortgage lenders are generally giant nationwide companies. Some specialize in mortgages and some are full service banks. If you have good credit, it's best to deal directly with mortgage lenders, cutting out the middlemen.
If your credit is poor, mortgage brokers can help. They can search the world of mortgage lenders to find a loan you might not be able to find on your own. Make sure you're dealing with a reputable mortgage broker.
1 comments:
Hi,
Mortgage broker offers you the ability to compare several reverse mortgage lenders and programs side by side. You can see the differences in cost and available cash at a glance. This enables you to pick the reverse mortgage program that works best for you. Thanks a lot...
Mortgage Note
Post a Comment