Price Matters! We keep costs low.
Unlike big banks, which have high margins and back-end profits hidden in their mortgage rates,
Cinch Home Loans is an independent mortgage company that uses wholesale lenders and interest rates, meaning there are lower rates and fees.
What is the Wholesale Mortgage Market?
Mortgages can be made through two different types of channels: wholesale and retail.
Most people are already familiar with traditional retail loans.
These are loans that come from a big bank and are handled in-house with the same financial institution. Borrowers apply for the loan from that big bank, and if they are approved, that same big bank cuts them the check. Think of these as the typical bank on the corner that you may apply to—you submit your application at the bank, get approved, and pay that same bank back.
The wholesale mortgage market, on the other hand, come from an investor or institution but do not deal directly with consumers. These types of loans start when a lender has a pool of money that they want to make into mortgages. But instead of lending it to borrowers themselves, they offer their loans only through third parties such as an independent mortgage broker.
The benefit of a mortgage broker materialized through an age-old secret of saving money by purchasing products through wholesale outlets.
It should be no different when shopping for your mortgage, and that’s where we at Cinch Home Loans have become a game-changer. As an independent mortgage company, you gain access to wholesale mortgage interest rates, products, and service. This results in working with only specialized mortgage professionals so you can end up with a lower rate and fees.