A mortgage lender is a company or financial institution that provides home loans to qualified borrowers. Lenders review applications, evaluate risk, and determine whether a borrower and property meet loan requirements.
What lenders review
- Credit history
- Income and employment
- Assets
- Debt-to-income ratio
- Down payment or home equity
- Property value
- Property type
- Loan purpose
- Occupancy
Types of mortgage lenders
- Banks
- Credit unions
- Independent mortgage companies
- Online lenders
- Correspondent lenders
- Portfolio lenders
Lender vs. servicer
The lender provides or funds the loan. The servicer manages the loan after closing. Sometimes they are the same company, and sometimes the loan is transferred to a different servicer.
Want to understand what lending options may fit your profile?
How to compare lenders
- Interest rate
- APR
- Closing costs
- Loan programs
- Customer experience
- Timelines
- Communication
- Fees
- Eligibility requirements
Review home loan options before choosing a lender.
Get StartedLender requirements, rates, fees, timelines, and loan options vary based on borrower profile, property details, loan program, and market conditions.