Who is a Lender? A lender is a financial provider. A typical lender usually offers a wide range of financial services--anything from home mortgages to car loans to personal checking and savings accounts. A mortgage lender can be your local bank. And, more often than not, a mortgage lender is a company that has a contract with your local bank or credit union to provide that institution’s mortgage services. That’s right. The vast majority of the financial institutions have their mortgage services outsourced to a third party.

Why is this important to you? Cost. Flexibility. Choices. Service. Because of this relationship, the cost of doing business is passed onto you--the borrower. Mortgage lenders are also limited to the type of mortgage products that should be made available to you. Most banks and large lenders only offer mortgage products for people with good income, good credit and who have money for a down payment. They are not interested in helping people find ways to fulfill the American Dream. When working solely with a mortgage lender, you may be limited to the programs and underwriting choices their company likes and feels comfortable offering. You are a number in a numbers game.

Who is a mortgage broker? A mortgage broker is solely dedicated to providing mortgage financing to a borrower. A mortgage broker is usually a small company dedicated to providing home financing for a specific geographical location. A mortgage broker is not under contract nor obligated to offer a specific product line to its borrowers. A mortgage broker has relationships with various mortgage wholesalers who provide the funds and products lines which are in turn made available to you.

Why is this important to you? Cost. Flexibility. Choices. Service. A mortgage broker is compensated by the wholesaler--not you. This relationship also allows the mortgage broker to shop and find the best product and pricing to fit your financial needs. There are many wholesalers competing for a mortgage broker’s business. This is a healthy competition that translates into lower rates and costs which in turn means additional savings for you. A mortgage broker also has the ability to be more flexible in lending guidelines than a traditional lender is. Our wholesalers offer a wide range of programs to include but not limited to: Stated and No Verification loans, 100% financing, and products for credit challenged borrowers to name a few.

With a wide range of products available, we firmly believe that we can provide a home loan to almost anyone wishing to fulfill the American Dream of homeownership. Choice Mortgage LLC is also is committed to providing the best service in the business. Because we are a local company, our reputation and vitality is based on the service we provide you. You are not just a number to us.

At Choice Mortgage we are committed to providing the BEST service in the business. That is not just a promise--it is a way of doing business. We do it one loan at a time.

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