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Additional Resources
  • For more information about affordable loan programs and new home loans including Home Equity and Refinance call
Module 3
Preparing for Home Ownership
Affording Your Dream
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Sources of Home Loans

Different Kinds of LendersThere are many kinds of financial institutions and lenders that offer home loans. You can probably find several providers in each of the categories listed below right in your local community.
  • Commercial Banks: in addition to offering traditional banking services, some commercial banks also take an active role in home financing.

  • Savings Associations: formerly called Savings & Loans and today referred to as “thrifts,” they maintain a large market share of the home loan business.

  • Credit Unions: these non-profit financial institutions are a fairly recent entry into the home financing market.

  • Mortgage Lenders/Bankers: these lenders originate and service home loans for a fee on behalf of their investors; some may also offer other banking services.

  • Mortgage Brokers: a mortgage broker brings a borrower and a lender together similar to the way a real estate broker brings a buyer and a seller together. The mortgage broker is paid a fee by the lender to originate a loan but does not continue to service the loan.

  • Online Lenders: commonly seen on TV commercials, these lenders offer home loans through the Internet. Before using one, it is important to ensure that an online lender is reputable as you will be asked for a lot of personal information.
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  Countrywide Home Loans, a division of Countrywide Bank, FSB is an Equal Housing Lender. © 2007 - 2008 Countrywide Financial Corp. Trade/service marks are the property of Countrywide Financial Corp., and/or its subsidiaries. All rights reserved. The content of this website is provided for the convenience of our readers and is for informational purposes only. Readers are encouraged to use the content of this website to supplement their knowledge and to also seek out other reliable sources of information prior to engaging in the home financing and home buying processes. The information featured herein is intended to be accurate and we will make efforts to keep this website updated. However, due to the rapid changes occurring in the programs, products, services offered within the home financing industry, we do not guarantee the accuracy of the information presented. Countrywide is not responsible for the contents of, or products or services offered on, third party Web sites and provides links to such sites solely for your convenience. This is not a commitment to lend. All rights reserved.