Not every mortgage lender is built the same way, and understanding the different types available – and their distinct advantages – can help you choose the right fit for your purchase.
Retail lenders (banks and credit unions)
These lenders work directly with borrowers and often bundle mortgages with other banking services, which can sometimes mean relationship discounts or faster processing for existing customers.
Wholesale lenders and brokers
Mortgage brokers work with multiple wholesale lenders, shopping your loan to find competitive rates and terms – especially valuable for buyers with less conventional financial situations.
Correspondent and portfolio lenders
These lenders originate and often fund loans themselves rather than relying entirely on the secondary market, giving them more flexibility for unique properties like non-warrantable condos or self-employed borrowers.
The advantage of shopping around
Rates, fees, and approval flexibility vary meaningfully between lender types – getting quotes from more than one is one of the simplest ways to save money on your loan.
Want a referral to lenders who know our local market? Call Dockside Realty at 850.225.9785 or email christine@docksiderealtyinc.com.