Mortgage lender vs. servicer: What’s the difference?
What happens when your loan moves to a new servicer?
Laurie is an editor on Bankrate’s Home Lending team. She previously worked as a copy editor in the higher education space, including at BestColleges and Affordable Colleges Online. Prior to that, she worked in marketing and public relations at Binghamton University while earning her master's degree. She regularly writes a blog, Better By The Beat, to educate and empower the chronic illness community.
As an editor, Laurie’s universal goal is to create content that helps people cultivate and lead their best lives. When she's not editing for Bankrate, she enjoys reading, writing stories, blogging and exploring the beautiful outdoors of New York State.
Recently, my husband and I left behind the apartment life and bought our first house. One of my biggest tips for first-time homebuyers is to shop around and compare offers from at least three mortgage lenders. By doing so, we were able to lock in a lower rate with a local credit union offering a special deal, despite the high-rate environment. It's also helpful to draft a list of questions for each lender so you can easily compare your options and nail down the best fit for you. The homebuying process can seem overwhelming at times, but it's all worth it in the end when you get the keys to your new home!
What happens when your loan moves to a new servicer?
Some options if you want a house but your savings are small.
Bankrate editor Laurie Richards shares why she worked with a local mortgage lender to buy her first home.
And do you need to keep all of them?
Getting a good loan starts with choosing the right lender.
What to expect from start to finish when lenders evaluate you for a home loan.
The rules are different for refinancing a second home or investment property.
These lenders keep the mortgages they underwrite, so they may lend when others won’t.
The down payment question may sound like a simple one, but it has many answers.
The average down payment for first-time homebuyers is considerably less than the oft-quoted 20 percent down payment requirement.
It’s not as easy to refinance your mortgage when you have equity debt. Here are the options.
Don’t give up on trying to keep your home. One of these strategies might rescue you.
Looking for home mortgage rates in North Carolina? View loan interest rates from local banks, NC credit unions and brokers, from Bankrate.com.
Looking for home mortgage rates in Colorado? View loan interest rates from local banks, CO credit unions and brokers, from Bankrate.com.
Looking for home mortgage rates in Florida? View loan interest rates from local banks, FL credit unions and brokers, from Bankrate.com.
Compare FHA rates. An FHA loan is a mortgage insured by the Federal Housing Administration. Check our rates and lock in your rate.