Who do I go to for my mortgage a Mortgage Company or Bank? New Haven, CT

Who do I go to for my mortgage a Mortgage Company or Bank?

I have run into many situations where a client says that I need a mortgage, but say that I am going to my bank because I don't want to be bounced around from company to company. The truth is that even banks do not hold all their own mortgages. An example is that I spoke with a person that did go to a bank, the loan closed and a week later received a letter indicating the loan had been sold. The person called up the bank and asked about their loan being sold. The response that was given was that they only hold onto certain types of loans.

So my point is that when shopping for a loan not even the banks always hold onto their own loans, so it is imperative that you give mortgage companies the opportunity to give you the best deal. In addition, most mortgage companies work with multiple lenders which give the mortgage companies the advantage over the banks since they typically only have one source for pricing.