Small Mortgage Lending Companies vs. Major Well Known Banks?

Hello!

I’m in the market for a new home, and I’m using OHFA Down Payment Assistance Grant and to qualify I will have to utilize one of their affliate lenders. There are a few Major banks listed, however the majority are small mom & pop lending companies. I’ve heard small lending companies often sell their mortgages, and that rates ad terms can change drastically… I’m not really liking that idea. Maybe I’m wrong or just need to ask the right questions. Any ideas?

Here’s a glimpse of the list — if you really are feeling like a big Santa helper yo can check the whole list — http://ohiohome.org/homebuyer/lenderlistings.aspx?county=franklin .

By the way, I’m in Columbus, OH (Don’t Judge Me 🙂 ) – So lenders are located in Franklin County.

Huntington Mortgage Group
Highland Banc
First Merit Mortgage
Fifth Third Mortgage
M/I Financial Corp
Real Living Mortgage
US Bank Home Mortgage
Wesbanco Bank
Wells Fargo Home Mortgage
Thanks for the answers. I wasn’t intending on getting so caught up with whether or not the loan would be sold, I’m really just wanting opinions on who to contact for the initial loan.

Are small lenders more likely to deny a 21 yr old – credit score 699 – than a major lender?

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