Mortgage Lenders & Brokers

Finding a mortgage lender online should be easy, but you will want to check the rates that they are offering. There are also different  types of mortgage lenders.

• Loans &Savings. Sometimes called thrift institutions, savings and loan associations are the largest traditional mortgage lenders.
• Commercial Banks. Commercial banks offer attractive loan terms and agreements.  Some commercial banks have their own real estate departments and will service your mortgage loan.
• Mortgage Bankers. Mortgage bankers basically borrow money from large main banks or investors, and sell them to investors for profit. They will often charge a fee from these investors for servicing the mortgages. Mortgage servicing includes collecting monthly payments, sending out loan statements, and collecting on late payments.
• Mortgage brokers. Mortgage brokers will search many lenders for you and find the best deals or rates currently on the market, the lender will then pay them a fee.

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