Borrowers: Mortgage Broker or Direct Lender?

Borrowers: Mortgage Broker or Direct Lender?. FBC Mortgage, LLC - Give Santa a break

Borrowers: Mortgage Broker or Direct Lender? video duration 10 Minute(s) 43 Second(s), published by Michael Hausam on 02 12 2018 - 03:14:29.

From whom should you get your mortgage loan? A direct lender (bank or mortgage bank)? Or a mortgage broker (an intermediary between borrower and a Homeowners who are seeking a hard money mortgage, for a home purchase or refinance, may qualify for a FHA home loan instead
As explained by the .

Matt Richter Branch Manager NMLS ID # 319232 http://www.phmc.com/mattrichter Coeur d'Alene, ID Office Office: 208-719-0184 Cell: 208-818-2889 (c) 2016 A borrower asked me a very important question a few days ago - a question not many ask
"Do you submit my application to the lender that pays you the most?. We understand that technology speeds things up, but we also understand that sometimes too much tech can be troublesome
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From whom should you get your mortgage loan? A direct lender (bank or mortgage bank)? Or a mortgage broker (an intermediary between borrower and a wholesale lender)?

(Bloopers at the end)

The choice for where to obtain your mortgage loan comes down to two options: a direct lender or a mortgage broker.

There are 5 points to consider when making this decision:
1. Your profile - this includes credit history, assets, income, and other items related to your qualifications. If your profile is unique, finding the right direct lender could be problematic.
2. Type of Loan - if your requirement is unique, you may have difficulty finding the best lender among those who offer that type of loan.
3. Transaction - if you're purchasing a home, there are important factors to consider beyond simply rate and terms.
4. Proximity - an out of the area lender may be less responsive that one that is local.
5. Costs - shopping rates and terms can be difficult.

For more assistance, please call, email, or text Michael Hausam at 949.413.2371 or Michael@HausamGroup.com

Michael Hausam is a licensed Realtor (BRE Agent #1319560) and Mortgage Loan Originator (NMLS # 1577195). He's been a resident of Orange County, CA since 1990, he funded his first mortgage loan in 1991, and he has had his real estate license for over 17 years.