![An exterior of a home with landscaped yard](https://www.bankrate.com/2020/08/04151337/Mortgage_lender_vs_servicer.jpg?auto=webp&fit=crop&width=230&height=150)
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.
VA loans come with a one-time funding fee. Here’s why, how much it costs and how to pay it.
The upside of a construction to permanent loan: The borrower only pays for a single transaction.
Borrowers can request forbearance when there’s a change in their financial situation.
Find out whether you qualify for grant money to fund home repairs.
Find and compare investment property mortgage rates and choose your preferred lender. Check rates today to learn more about the latest investment property rates.
Compare FHA refinance rates. An FHA refinance loan is a refinance insured by the Federal Housing Association. Check our rates and lock in your rate.
Looking for home mortgage rates in Washington, DC? View and compare interest rates from local banks, DC credit unions and brokers on Bankrate.
Looking for home mortgage rates in Nebraska? View and compare interest rates from local banks, DC credit unions and brokers on Bankrate.