Hard Money Direct Lender Vs Broker
Many people hear the term mortgage broker or direct lender but don't really know what it means. A mortgage broker is a person that is looking to place money WITH a direct lender. This would be a person that likely has multiple different direct lenders to source your project to. The upside tends to the be the variety of options. The downside is that you are not talking with the person making the decisions so if you are working with a broker, make sure they are vetted properly. Like any business there are really good ones and some that are not so great. A direct lender is the actual person making decisions on the money you are asking for. The upside is you get a direct answer from the decision maker, the downside is that they likely have one specific product they lend out.
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