Types Of Mortgage Lenders Explained

In this video, I explain the different types of mortgage lenders and why one may be a better fit for you than another.
⭐Have mortgage questions? Pick a time that works best for you here
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⭐ Call Me: My cell phone is 707-478-0637 I am happy to help. Let’s get you home!:)
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0:23 - Brokers' Marketing Strategies
2:00 - Dominance of United Wholesale and Rocket
3:22 - Benefits of Brokers' Access to Unique Products
5:00 - Banks' Risk Assessment
6:07 - Private Banking Benefits
8:37 - In-house operations like banks
10:01 - Control and licensing
11:18 - Access and control in lending
12:20 Call me at 707-478-0637!!
Licensing info: Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611 Branch Address: 1750 N University Drive, Coral Springs, Florida, 33071 Equal Housing Lender
For licensing, go to www.nmlsconsumeraccess.org
Top 1% in the nation 2016-2022 www.zerostressmortgage.com
NMLS 247743 Guaranteed Rate NMLS 2611
To access Guaranteed Rate:
www.guaranteedrate.com/discla...
www.guaranteedrate.com/licens...
My State License Numbers:
AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MS-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, PA-247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY - 8203
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.

[@ZER0_G]

I think making informative YT videos would be a plus too. Just saying. Thanks for the breakdown.

[@JenniferBeeston]

Happy to help:)

[@rogerjeong9976]

When I got my loan 2 1/2 years ago, I went through a broker who used UWM and Rocket mortage. UWM sent out a letter to brokers in December 2021 that said if a broker used Rocket and UWM, then UWM would not be deal with that broker.

[@JenniferBeeston]

yep that is one of the things the lawsuit is over as some brokers were sending 90% of their business to one place while saying to clients they were shopping for them.

[@russlea6383]

A Teacher is better. 😇

[@LittleCabin]

Any specific suggestions with respect to construction loans? In particular, those for someone borrowing when retired (if that even matters)? I've heard it's best to go with local, community-type banks since "they know the area," but not sure of that's true??? I assume there's some amount of interaction needed between the builder and the bank...

[@JenniferBeeston]

Construction loans where you’re buying the land and then building the house often community release, small community banks and credit unions Do have the best products for that.

[@daynescott1]

Amazing breakdown! I just closed escrow and my loan amount is a little over $2.3M. Purchase price was $2.9M. I know I can’t refi until another 6 months, but are there any banks you know or recommend who are of being competitive? Thank you!

[@JenniferBeeston]

Congrats on your new home! 🏡❤️It depends on the type of loan you have. Also within six months whoever’s lowest now likely won’t be the lowest then. Banks are always moving in and out of the market to a large extent .

[@kalebdrake689]

Hi My Name is Kaleb

[@Sari_Ariel]

Will my credit go down if I shop around for different mortgage rates?

[@JenniferBeeston]

not if you do within a 30 day window

[@Sari_Ariel]

@@JenniferBeeston Hiii and thanks! Your channel is so helpful!

[@JenniferBeeston]

I am glad the channels helping :-)