Portfolio Lenders vs. Banks vs. Credit Unions 🏡

• Portfolio Lenders: Keep and service their own loans — more flexibility with credit, income, and property types. Great for unique situations. This is my favorite type because they are going to offer you a variety of lending options, not just their institutions products. They also can legally and ethically work outside of the box that banks and credit unions are stuck in. Most importantly, they sing for their super aka they don't get paid until they deliver the goods. They earn their fees through good service.

• Banks: Sell most loans to investors (like Fannie/Freddie); they tend to work with stricter guidelines, but competitive rates and big-name stability. They are not as flexible and because they get paid whether or not they sell a loan, in my experience can be complacent and less urgent in an escrow's tighter timeframes.

• Credit Unions: Member-owned — often offer lower fees and personalized service, but smaller loan programs. They are like banks, they get paid whether or not they sell a loan, in my experience can be complacent and poor communicators often with rules that keep teamwork at bay in an escrow and are very 9-5 which doesn't serve most escrows well.

👉 Different paths, same goal: getting you home!

I always recommend Jason Gordon at CMG Mortgage
Click & See his info here under MORTGAGE