48 Meriden Rd, Suite 1, Middlefield, CT 06455

Connecticut Mortgage Broker Vs Mortgage Lender

Using a Connecticut Mortgage Broker or a Mortgage Lender? 

Hello everyone – we are Northeast Financial (a local Connecticut Mortgage Broker) located right in Middletown Connecticut (and we cover the entire state).

Many consumers do not know the difference between a Connecticut mortgage broker and a mortgage lender.  Consequently, knowing how they are different can help you greatly when buying or refinancing a home.

Mortgage Lenders

First of all, a mortgage lender is using their own money to finance a purchase or refinance transaction.  They only have access to their own interest rates which they set in compliance with government standards.  They also set the guidelines for how they close their loans.  But, unlike a broker, if they turn down your file – then they have no other avenues (which can cost you time and money – if a fee was paid for the appraisal).

Mortgage Brokers

In contrast, a Connecticut mortgage broker does not use their own money.  Rather, they are able to shop the best rates, programs, and closing costs for their clients.  Mortgage brokers get their money from companies called Wholesale Mortgage Lenders.   Each Wholesale Lender offers different programs, different rates, and different terms.  Most brokers will have relationships with several Lenders to make certain they are able to offer the most competitive programs for their clients.

At Northeast Financial we pride ourselves at being the best at what we do.  We offer almost every mortgage loan type to fit your needs.  Also, our customer service and mortgage knowledge is second to none.  Because we are mortgage brokers we are able to offer you the most competitive programs in the nation.

Call us today and lets talk about your mortgage options.  We offer FHA, CHFA (first time mortgages), USDA (rural), Veteran (VA), Jumbo, Conventional, Reverse, and Commercial Mortgages (great for investors).





Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457







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