When you decide to own a home, it usually comes along with a mortgage. There are many types of mortgages you will find out there and they come from three major types of lenders. Here are the three major lenders you are likely to encounter when you own a home or plan to purchase one.
These are not actually lenders, but somebody that will help you find a mortgage. Mortgage brokers work with multiple types of lenders and can search their database for the best deal for you. However, you will pay a fee if you choose a loan through a broker, but they will be able to compare multiple lenders for you.
The most common type of mortgage lender is a retail bank. These institutions come in many shapes and sizes from local…