How to choose a mortgage broker when buying or refinancing
When choosing a mortgage lender, it's important to carefully compare several key factors to ensure you get the best deal and the right fit for your financial situation. Here’s who you might consider and how to evaluate them:
1. Types of Lenders to Consider
Banks: Traditional option; may offer relationship discounts if you have accounts there.
Credit Unions: Often have lower rates and fees; membership may be required.
Mortgage Brokers: Shop multiple lenders on your behalf but may charge a broker fee.
Online Lenders: Often streamlined and convenient; compare their rates carefully.
Non-bank…
The skinny
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