Mortgage Lender

A mortgage lender is, quite simply, an individual or institution that lends money to purchase property. There are several different types of mortgage lenders, including mortgage bankers, mortgage brokers, wholesale lenders, portfolio lenders, and more. NationalRateFinder.com and our affiliated state sponsored sites offer an easy way to sort through hundreds of lenders to find the right local mortgage lender for you--with the best possible interest rate.

But first, here's a quick primer on the main types of mortgage lenders. Mortgage bankers are larger entities that can create loans and sell them directly to corporations like Fannie Mae and Freddie Mac. Despite the name, mortgage bankers are not always affiliated with banks. Mortgage brokers, on the other hand, originate loans and broker them with wholesale lenders, who provide the funding.

A portfolio lender is an institution or corporation that lends its own money. Savings and loans companies and banks can fall under this category. Because they work independently (and are not immediately selling the loan to a broker) they can establish their own credit requirements and mortgage rates. Once the loan is "seasoned" (this requires timely payments be made for a year or more) many portfolio lenders will then sell the loan on the secondary market.

At NationalRateFinder.com, we make it easy for you to find the perfect home loan in your area. When you explore our site, just click on your state to start the process of finding the best mortgage lender in your area. With our free internet service, you can let us do all the work of sifting through lenders, while you receive the benefit of great customer service and the low mortgage rate you deserve.