All Lenders Are NOT Created Equal.

Yes, I know I am stating the obvious here. How can this affect getting a home loan? Let’s get to know the players. Four Basic “Types” of Mortgage Lenders..   Bank or Credit Union Mortgage Company Mortgage Broker Online Only Lender Bank or Credit Union They offer other products such as checking, savings, car loans, etc. for those of you that prefer “one stop shopping.” Occasionally they can offer incentives for if you take other services like a checking account. Be careful not to fall for incentives on other products. They are minor compared to the financial consequences of not getting a good mortgage. Insider Secret – just because you are a customer of a bank or credit union does not mean you’ll get any preferential treatment. Your bank or credit union will put a home loans together under the same basic criteria as everyone else. The mortgage must be … Continue reading