30 May 2022
How Much Can I Borrow for a Mortgage?
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Non-bank lenders, such as Mortgage House, have become more and more popular with borrowers. This is because non-bank lenders tend to have more flexible and innovative loan products, fewer overhead costs, and lower rates. So what is a non-bank lender, and are they better than traditional lenders?
Non-bank lenders are financial institutions that operate much as a bank does; however, they cannot take deposits from their customers. Despite this, they can still offer home loans, car loans, and credit cards at more competitive rates than bigger banks.Â
It depends on what you’re looking for. There are advantages and disadvantages that come with using a non-bank lender.
Some advantages include:
Some disadvantages include:
If you are interested in a non-bank lender for your home loan, contact the experts at Mortgage House today.