Advertiser Disclosure

Comparison Between Mortgage Brokers And Direct Lenders

Comparison Between Mortgage Brokers And Direct Lenders Payday Loans

Who is a mortgage broker?

A mortgage broker is a mediator between the lender and the borrower and usually helps the borrower to meet the right lender, which would meet his requirements the best. All the understanding and communication takes place with the help of the broker. A mortgage broker works mainly through the side of the borrower and brings him the best deals.

What are direct lenders?

Direct lenders are those who deal with the loaning system on his own. There is no involvement of any third party such as a broker. The direct lenders can be an individual as well as a company.

There will be a difference in the process of lending money if you choose either of the parties.

Direct lenders usually offer only mortgage-related services, whereas mortgage broker handles various types of loan services. According to this perception, the direct loaner seems more specialized when compared to the mortgage broker.

Direct lenders have strict rules and make sure the borrower abides by them. They have no separate rules for each but in the case of mortgage brokers, the rules become flexible, and they can vary with each person.

Direct lenders usually have the permission to lend in all the states, but mortgage brokers do not. They usually have limited access to that.

You are solely responsible for all the decisions you make while dealing with a money lender directly. A mortgage broker can help you with a few things like proper procedure and can tell what is in your best interest.

In case you do not have the kind of time to sit and research for the best deals, the broker can come to your rescue.

A mortgage broker can deal with multiple money lenders at a given time on your behalf and can get you the deals which go exactly with your plans.

Here are a few factual checks which can help you assess what is the better option amongst the two. The answer can be subjective, and it totally depends upon your need to take help of the comparison drawn and choose what suits you the best.

261 VIEWS

top rated cards

Citi® Double Cash Card – 18 month BT offer

cards
  • Purchases Intro APR
    15.24%
  • Regular APR
    15.24% - 25.24%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi ThankYou® Preferred Card

cards
  • Purchases Intro APR
    15.24%
  • Regular APR
    15.24% - 25.24%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi Simplicity® Card - No Late Fees Ever

cards
  • Purchases Intro APR
    15.74%
  • Regular APR
    15.74% - 25.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer

cards
  • Purchases Intro APR
    14.74%
  • Regular APR
    14.74% - 24.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0
Finance

How Financial Advisors Can Help You Save For A Rainy Day

If you are earning money and have thought about saving some for the future, surely you have thought about using the services of a professional financial advisor. Assessing the financial needs of an individual or family, financial advisors help wit...
255 VIEWS
Finance

State Farm Insurance Homeowners Quote For 2018

Our home is our place of security and our family is the comfort zone that we always like to return to. As such, given the importance of this place, it is important for one to take care of their house and make sure it can stand against natural disaste...
296 VIEWS
Finance

Free Forex Trading Strategies That Are Sure To Help You

Are you new to trading? Forex trading in particular? Learning the best forex trading strategies is the first step. Attempting to trade with the trial and error method is not as favorable as researching and following strategies learned over years of e...
262 VIEWS