What Are The Types Of Mortgage Lenders?

Lenders of mortgages are essential in the home-buying process. Here are some of them:

Independent mortgage lenders – are intermediaries that can look for the loans and conditions that best suit your requirements.

Direct lenders – they either utilize their own money or borrow it from another source.

Online-only mortgage lenders – are financial firms that exclusively offer one particular product.

Wholesale Lenders – Banks and other institutions known as “wholesale lenders” provide loans through intermediaries like credit unions, mortgage brokers, other banks, etc. rather than directly to consumers.

Retail Lenders – Retail lenders provide mortgages straight to particular customers, which is precisely what their name implies.

Leave a Reply

Your email address will not be published. Required fields are marked *