What is a home mortgage direct lender?


Every mortgage lender who is not a broker, is a home mortgage direct lender, to put it shortly. Sometimes, an organization may be functioning as both. Usually, a mortgage broker will employ not more than ten employees while a home mortgage direct lender will have different departments (retail, wholesale, etc.). It is a controversial topic whether it is best to approach a direct mortgage lender or a mortgage broker.

With a home mortgage direct lender you are restricted only to one or several loan programs to be offered to you. A broker will be shopping loans from many lenders and may get exactly what you need. However, with a lender you may get better rates, but not necessarily always.

The best way to find out if you are dealing with a direct home mortgage lender or with a broker is to ask them or check their registration and testimonials.

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