There are a variety of choices for those who can provide a mortgage loan for the purchase of property in Sarasota and Manatee counties. They basically fall into two categories, mortgage brokers and lenders. While both can provide great rates and service, the way they function is entirely different.
Mortgage brokers work with a variety of lenders, matching the speific needs and qualifications of the borrower with a lender who offers the best match. By using a mortgage broker you are hiring an experienced agent to work on your behalf to locate the best deal for you. They do the legwork for you, using their market knowledge and skill, working with lenders and completing their necessary requirements. They usually cost no more than working directly with a lender and offer broad market knowledge although they are not the final decision makers on your mortgage approval.
Lenders work for a specific bank or lending institution. The firm may offer a few or many, specific mortgage products which are available through the company. They do not look outside their company to compare or find a better product from a competing lender. The mortgage product may be a good fit, but lets face it you can't be everything to everyone. By working directly with a lender, you achieve a source with a great depth of knowledge on their specific mortgage products and are a representative of the company that is responsible for your mortgage loan approval.
Below we have a few mortgage brokers and lenders that we have had experience. Click on any of the company banners to go directly to their website. The firms are listed in alphabetical order, not in any order of preference. If you have any questions, regarding use of any of these mortgage providers in your real estate transaction, please consult with your Sarasota Home Realty agent.