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· There are many benefits to getting your mortgage at the same place where you bank. Here’s why you should get a mortgage through a credit union or local bank.
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Private lenders are not banks, financial institutions, or credit unions. Instead, private lenders are non-institutional lenders who as companies or individuals loan money to others. Those who receive loans from private lenders are typically awarded money based on their relationship with the private lender.
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What Is A Home Mortgage Loan DEFINITION of ‘Home Mortgage’. A loan given by a bank, mortgage company or other financial institution for the purchase of a primary or investment residence. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once.
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