Belt Auction

How do real estate companies get mortages?

I was wondering if I should go to a mortage lender company, and have them help me because the way I understand it they are connected to many different lenders. However, if I go through a real estate company, century 21, prudential, do they have financing with only one company, or 2..or do they have a larger network? I don't want to have to pull my credit a dozen times. I figured I should go to someone who can pull my credit once and run it but with a large group of lenders..does this make sense? Like when I went to get my car they pulled it and ran it through 30 different auto loan companies..does anyone have any idea as to what I should do? I will shop around, I just don't want to shop to every person in my town. Thanks!

Public Comments

1. Real estate companies have mortgage lenders that typically work in their office. They are usually associated with one company.
2. We have a lender that works in our office that we recommend on occasion, but buyers are free to shop loans and compare rates with as many lenders as they choose. A mortgage broker may be your best bet and they will have access to many different loan programs.
3. You can use a Lender finding service like http://www.golendershopping.com you apply and they have up to 3 different mortgage lenders give you quotes, you pick the best one. There is only one credit check I believe. Also, you may want to check out the Home Ownership Accelerator Blog, it's pretty exciting: http://www.homeownershipacceleratorblog.info they have great information about a new loan program that helps people pay off their home in as little as seven years so they are not being charged interest for another 23 years on a normal 30 year mortgage. Hope that helps, good luck!