Types of lenders
Shopping for a lender is no longer limited to banks and savings and loans. Today’s choices include banks, mortgage brokers, home builders and Internet lenders. Each has its advantages and disadvantages, and rates vary from lender to lender.
Types of Mortgage Lenders
Advantages of Banks
-Regulated by state and federal agencies -current banking relationship can get you a reduced mortgage rate -Numerous branches provide you with face-to-face access
Disadvantages of Banks
-Limited to products only the bank has to offer -May not have the best rates -May lack negotiation leverage when it comes to publicized rates
