Step 14 of 48 Phase 2: Assess Your Buying Power
2.7 Lenders 101
Learn about different types of lenders and how to choose one.
Types of Lenders
| Type | Pros | Cons |
|---|---|---|
| Banks | One-stop shopping | May be stricter |
| Credit Unions | Lower rates, member focus | Membership required |
| Mortgage Brokers | Shop multiple lenders | May have fees |
| Online Lenders | Convenient, competitive rates | Less personal service |