What is a non bank lender?
I want to get a mortgage and want to know the difference between a bank and a non bank lender
Question posted for: Berkeley, CA
2 answers
scan some of the previous questions - this question has been bounced around quite a bit I think...
To answer your question, a non bank mortgage lender typically will end up selling your loan on the secondary market after it closes.
I wouldn't spend too much time focusing on the distinctions between bank and non bank lenders and instead try to find a good rate from someone you trust.
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