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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

Connecticut Mortgage Broker Vs Mortgage Lender

Connecticut

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).

 

 

Thanks,

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
Mike@northeast-mortgage.com
860-876-0572
210 S. Main St Middletown, CT 06457

NMLS#117273 

 

 

https://www.linkedin.com/company/north-east-financial

https://www.facebook.com/pages/Northeast-Financial-Mortgage/143761005796033

 

Residential Clients: Click Here For Application

 

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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

© 2024 Northeast Financial LLC dba Northeast Home Associates, LLC NMLS# 117273
Connecticut Mortgage Broker License # 20995. North Carolina Mortgage Broker #B-176940. Florida Mortgage Broker License #MBR5370. Registered Mortgage Broker New York #RMB 209075
www.nmlsconsumeraccess.org | Equal Housing Opportunity | 48 Meriden Rd, Suite1, Middlefield CT 06455
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Complaint Policy

The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans arranged through third party providers. Does not make loans, issue a pre-qualification or pre-approval in the state of New York.

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