What Are Wholesale Mortgage Lenders?
Wholesale mortgage lenders use a network of brokers and lenders to generate home mortgages. In addition, they offer other methods to finance the home including government loans, alternative loans, home equity loans and jumbo loans. The lenders network can provide any of these types of loans to anyone who meets the qualifications. The network is there to make sure that lenders and borrowers go through a proper transaction. Typically, a mortgage broker will acquire wholesale lending rates and then add a few points to the rate as a markup. Mortgage brokers can set any price they want with the wholesale rates they get. There are several different types of wholesale mortgage lenders. Let’s briefly take a look at some of them. Online Wholesale Mortgage Lenders When you apply for a mortgage online there are usually no upfront costs or even obligations. The beauty of the internet is that you can do a lot of research from the comfort of your own home. It also allows you to get various quotes fo
