Choice Finance

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Mortgage Broker In the past, when you applied for a mortgage, it was assumed you would go to the local bank where you keep your savings and checking accounts. Today, there is a wide range of choices.. so where do you start? You can approach a mortgage banker directly, or you can go to a mortgage broker.The mortgage banker is the lender; the one making the loan directly. See Mortgage Bankers Association of America. Even if you use a broker, it's the lender who makes the ultimate credit decision. Our loan Underwriters are in-house to make credit decisions. The biggest advantage is the speed at which a loan approval can be given. The banker more often than not gets the mortgage approved in days as opposed to weeks.A mortgage banker will present you with only that lender's portfolio of mortgages, so you need to speak with several lenders to do comparative shopping, OR you speak with your mortgage broker who has access to these other Lender's loan programs.

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