Understanding the difference between choosing a Denver mortgage company and a bank can help you determine how to handle your home loan and which are the best steps to take in this direction. A financial advisor can help you throughout the whole process, so that you can rest assured that you are making the right choices and that your financial stability is safe in the long run.
Full service banks usually offer mortgage loans and other banking products such as savings accounts, as well as business loans. At the same time, many banks can also offer insurance and investment products, so that mortgage loans represent only one small aspect of their activity. Banks are regulated by the Federal Deposit Insurance Company (FDIC).
If you get your loan with a bank you can get many special advantages such as lower rates and also special loan programs for self-employed investors. But due to the necessity for complying with federal regulations, the lending requirements may be a bit stricter.
One of the main benefits you get if you access your loan through a successful Denver mortgage company is that you can thus find a wider range of products and offers. Due to the fact that mortgage companies only service mortgage loans, this type of companies can better streamline the process than a bank would.