A lender is an entity (often a company) that makes funds available for borrowing. A lender performs the functions necessary to complete a mortgage transaction. Lenders include approved sellers, mortgage brokers, and third-party originators (TPOs).
Beyond mortgages, there are lenders for all different types of loans, including personal loans, car loans, student loans and business loans. Lenders can also be private institutions like banks, or public entities like the federal government.
As a consumer interested in borrowing money, it is your right and responsibility to shop around for the lender whose services best meet your needs. Regardless of the type of loan, you should look for the lender who offers you the most competitive interest rates, lowest closing costs and the fastest way to build equity.
Using a lending exchange like LendingTree® can help ensure that you get the best deal on your loan. LendingTree puts you in control of your loan by asking lender to compete for your business. You can then compare loan offers so you can find the best fit for you and your finances. This is especially important because loans, especially mortgages and car loans, can last a significant amount of time and take up a considerable amount of your income. Visit the LendingTree Smart Borrower Center to learn more about loan products (www.lendingtree.com/smartborrower) or start your loan request at LendingTree.com.