GMAC Mortgage - GMAC Mortgage is just one of the many lenders that offer wholesale rates to mortgage brokers around the country. You can get a shop the wholesale rate from citimortgage against the other top lenders in the country. GMAC Mortgage Loans obtained through mortgage brokers have very competitive rates. Wholesale mortgage brokers have access to GMAC Mortgage innovative products and programs, including affordable financing, flexible credit criteria and flexible down payment guidelines for moderate-income borrowers.
GMAC mortgage is only able to offer a limited assortment of their own in-house mortgage programs to you. However, a mortgage broker is able to offer not only GMAC's mortgage programs but hundreds of programs from other mortgage companies as well. By having access to hundreds of different mortgage programs, a mortgage broker is able to find the best possible mortgage program to fit your needs.
GMAC also has a retail division that offers mortgage loans directly to consumers. Although the interest rates and fee's will generally be higher then a local mortgage broker when dealing directly with GMAC retail branches.
GMAC, Countrywide, Chase, Wells Fargo and all of the other big mortgage lenders basically have the same programs, rates and fees to offer to consumers through their retail branches. However, it is their wholesale branches that usually have more programs to offer to mortgage brokers to provide to consumers along with lower rates too. This is one of the reasons that well over half of the American consumers use a mortgage broker to finance their mortgage transactions.