Trying to get a mortgage? You need this guide right now
Basic Mortgage Market The basic mortgage market connects mortgage lenders to lenders who want to buy or borrow against the owner-occupied homes, vacation homes and investment properties. Most homeowners need a mortgage to buy their home, so it's important to understand the basic mortgage market process and benefits. Here's what you need to know. If you need help with a mortgage or any other financial question, consider working with a financial advisor. Definition of primary mortgage market The basic mortgage market is a collection of banks and lenders that lend to borrowers to buy or refinance their homes. Some banks sell their loans to other banks and investors through the secondary mortgage market. Other borrowers keep the mortgage on their balance sheet to collect income from the monthly mortgage payments. Benefits of Primary Mortgage Market The core mortgage market offers numerous benefits for homeowners and investors alike. Because the average homeowner buys and sells on...