Walk into your local bank. A loan officer will examine your financial profile, and if you fit their “lending profile”, will give you a loan based on that bank’s best rates for the day. Without the ability to shop around for the best rates, you will never know if you truly got the best deal.
Go to a Mortgage Broker. The broker will examine your financial profile, “shop” it to different banks and pick the best rate. He will then give your application and documents over to the chosen bank, losing ALL control over your file and subjecting your loan to the bureaucracy of the big banks. The bank will then process, underwrite and fund the loan. This is an extra and unnecessary layer to the loan process.
Come to Silver Bay Lending. Silver Bay Lending is a Mortgage Bank/Direct Lender licensed and delegated by the State, Fannie Mae, Freddie Mac and FHA to originate, process, underwrite, close, and fund mortgage loans. We sell our loans to dozens of investors, giving us the ability to offer the same diverse products and programs as brokers, while controlling the lending process like a bank.
This gives us FULL CONTROL over your loan from start to closing making sure that not only do you get the best rates and the right loan program, but that your entire mortgage experience is simple, streamlined and free from uncertainty and stressful delays. We have all the underwriting ability and resources of a large lending institution but without all the bureaucracy.
What are the benefits to you?
- Competitive rates. Because we are a correspondent/direct lender, our rates are extremely competitive relative to the market.
- It is cost-effective. Because we process, underwrite and most importantly, fund the loan ourselves, we eliminate all of the extra fees that a broker would charge.
- Creative financing is our specialty. We are highly knowledgeable in the mortgage business, and can find creative, lower cost ways to finance your home or investment property.
- We can close your loan quickly. Because your loan is fully underwritten in-house, we can close loans in half the time it would take a broker or your bank. In fact, we have the fastest turn-around time in the industry.
- Trust. Our business grows solely by the referrals of pleased customers and certain trusted referral partners.