Raleigh Residential Real Estate – Mortgage Tip for Buying a Home in Raleigh, North Carolina Area – Types of Mortgage Lenders – Wholesale Lenders

Mortgage Tip for Buying a Home in Raleigh, North Carolina Area – Types of Mortgage Lenders – Wholesale Lenders

The third type of mortgage lender is a wholesale lenders that predominately make loans to mortgage brokers and mortgage bankers. They often do not have any branch offices that serve the public, but they rely on others to handle the loan origination. For this service they offer the mortgage brokers and bankers a discounted rate on the loan. The mortgage broker or banker will then add their fee to the loan.

The buyer usually gets about the same rate in this fashion as he would if the wholesale lender had his own retail branch.

In today’s marketplace there is a blending of all three types of lenders. And each type of lender has a wide variety of loan options from which a buyer may choose.

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