Borrowers: Mortgage Broker or Direct Lender?

Borrowers: Mortgage Broker or Direct Lender?. Why It's Important to Shop Mortgage Lenders

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 WisdomWednesday So let's get moving and get YOU preapproved! Contact me for more info
#NowNotLater.

In today's real estate advice episode we'll share real talk about mortgage lenders and home loans! Buying your new home is exciting and one that most of us will Buying your first home isn't as simple as visiting a few realtor open houses
What you do before you start shopping can help ensure you make a decision you Mortgage is a product, which means the types, cost, and terms can vary from lender to lender
It also means your experience will vary depending on what .

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.