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Many sorts of financial institutions offer mortgages, but the two biggest categories are banks and mortgage lenders, aka mortgage companies. Each institution has pros and cons.
Continue reading → The post Mortgage Broker vs. Bank: Which Is better? appeared first on SmartAsset Blog. When buying or refinancing your home, you want to get the best deal on your mortgage. To ...
Pros of working with a mortgage broker A mortgage broker can help you save on fees: When you get a mortgage, you’re likely to pay an origination fee , application fee and appraisal fee — just ...
Pros. Ability to bank and pay mortgage all in one place. Branch locations for in-person service. Local, regional and national options. Possible discounts for banking customers
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The mortgage broker originates the loan; however, the funding of the loan as well as the decision on the creditworthiness of the loan is handled by the wholesale lender. [2] The name of the wholesale lender typically appears on the loan documents, while the broker acts as an agent for the lender and collects a fee. [3]
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