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Commercial hard money lenders typically issue loans up to 80% of a property's loan-to-value. Commercial hard money lenders typically issue loans up to 90% of a property's loan-to-value.

Credit scores, home location, home price and loan amount, down payment, loan term, interest rate type, and loan types are the essential factors that affect the interest rates.

Pre-Approval. When you are pre-approved for a mortgage, it means a lender has looked closely at your credit reports, your employment history, and your income ﾗ and has then determined which loan programs you qualify for, the maximum amount you can borrow and the interest rates you will be offered.

Mortgage bankers, wholesale, retail, correspondent, mortgage brokers, account executives, loan officer, portfolio, and direct mortgage lenders are the different types of mortgage lenders.

A lender is a financial institution that makes loans directly to you. A broker does not lend money. A broker finds a lender. A broker may work with many lenders. Whether you use a broker or a lender, you should always shop around for the best loan terms and the lowest interest rates and fees.

A wholesale mortgage lender works with independent mortgage brokers and loan officers to originate loans. Brokers and loan officers work on the retail end with borrowers, and once they secure a deal, they send that deal to a wholesale mortgage lender for underwriting and processing.