Applying for a mortgage can be a task and a lot of people ask realtor’s for help. For today’s Question & Answer, I will explain the difference between a direct lender (like a bank or credit union) and a mortgage broker (like Lokahi HomeLoans).
Ultimately, the decision to go with either a lender and a broker is up to you. At its basic level, both will help you get an idea of what you can afford, gather your personal financial information to see what type of loan you can qualify for, provide service and help you understand any legal disclosures during the transaction, and eventually get you a mortgage for your transaction. The differences between the two focus on the process each uses to get you that loan. [Read more…] about What’s The Difference Between a Mortgage Broker and a Mortgage Lender?