What are the Advantages and Disadvantages of Wholesale Mortgage Lenders?
Some advantages of going for a mortgage broker than use wholesale mortgage lenders is that your application can be treated individually as the brokers will have a pool of wholesale lenders to choose from and should consider your unique situation to use the best wholesale mortgage lender for you. Another advantage is that if your application for a mortgage is unsuccesful with one lender for whatever reason, the broker can try another wholesale lender that might prove to be succesful and will still be of a good rate to you. It takes out a lot of the leg work in finding your mortgage – Although a mortgage is definitely something where “leg work” is definitely advised! It will be one of the most important investments of your life! It shouldn’t be rushed. Disadvantages? There are a few – One disadvantage is if the loan officer that you’re going through at your local broker is a greedy so and so! Some loan officers put an extortionate amount of compensation for their efforts which pretty muc
