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Is it better to go with a correspondent lender or mortgage broker?

My fiance and I are looking to get a house. our credit scores are decent (about 700). I am looking into conventional loans by martinill7823394 from White Springs, Florida. Mar 31st 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,924 contributions

Correspondent lenders and mortgage brokers are one in the same.. If you're looking to get a new home, then the best advice I can give you would be to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 31st 2015
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Dave Skow (daveskow)
#16 ranked lender in Washington - 142 contributions

Best thing to do is contact several loan officers / lenders ....ask them for quotes using the same exact parameters and ask them to forward you a " worksheet " that summarizes their quote ....compare ......decide to proceed with the loan pre approval process with whomever you feel most comfortable with and that provides you with the best customer service ...thanks and all the best ...Dave Skow ...Eagle Home Mortgage 206 714 9745 daveskow@eaglehm.com

Mar 31st 2015
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Neither. Contact a Mortgage banker like my self at Caliber Home Loans. It's likely that a correspondent or broker will sell the loan to us anyways. Save the fees

Mar 31st 2015
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