A “WholesaleMortgageRates mortgage rate comparison” is a side-by-side quote of the same loan scenario from several wholesale lenders, assembled by an independent broker, and it is only meaningful when every lender is priced on identical inputs. A direct lender can show you one price list. A broker can show you several, which is the point of the exercise.
By Duane Buziak, NMLS #1110647, Coast2Coast Mortgage LLC NMLS #376205. This article explains how that comparison is built, what to look at besides the interest rate, how the arithmetic works on a sample loan, and which named lenders tend to fit which borrowers. It also covers how to request your own comparison through Wholesale Mortgage Rates by Duane Buziak.
How a Wholesale Mortgage Rate Comparison Works Through an Independent Broker
In the retail channel, you deal directly with a lender’s loan officer, who can only quote that lender’s own pricing. In the wholesale channel, a licensed broker submits your scenario to lenders that accept loans from brokers, and each lender returns its own price for that scenario. The broker’s job is to read those prices, match them to the program that fits you, and explain the trade-offs.
Duane Buziak has wholesale broker relationships with lenders including UWM, PennyMac, Newrez, Freedom Mortgage TPO, Plaza Home Mortgage, Kind Lending, CMG Financial and PRMG, along with many more across agency, jumbo, and Non-QM lending. These are independent business relationships. Duane Buziak is not affiliated with, endorsed by, or a division of any of these lenders, and nothing here is a statement from them.
The key rule of a valid comparison is that rates are priced per scenario. A lender’s price moves with these inputs:
- Credit score
- Loan-to-value ratio (LTV)
- Occupancy: primary home, second home, or investment property
- Loan type and program
- Loan amount
- Lock period
Change any one of those for one lender and you are no longer comparing like with like. A 740 score at 80% LTV on a primary residence will price differently from a 680 score at 95% LTV, and a quote built on one set of assumptions cannot be set against a quote built on another. That is why Duane Buziak starts by fixing the scenario, then collects pricing from each lender against it.
The other advantage is access. Many wholesale programs are available only through brokers, so a borrower calling a lender directly may never see them. A comparison also surfaces fit problems early: a lender with attractive agency pricing may not be the right home for a self-employed borrower with bank statement income.
What to Compare Besides the Interest Rate
The note rate is one number among several, and on its own it tells you little. The same rate can carry very different costs depending on how it is priced.
Points, credits, and the Loan Estimate
A discount point is an upfront fee equal to 1% of the loan amount that buys a lower rate. A lender credit works in the opposite direction: you accept a higher rate and the lender pays part of your closing costs. A quote with a low rate and two points is a different product from a quote with the same rate and a credit, even though both headlines read the same.
The standard tool for sorting this out is the Loan Estimate, a three-page form lenders must give you after you apply. The Consumer Financial Protection Bureau explains each section in its Loan Estimate guidance. Put the estimates side by side and compare line by line: the rate, the origination charges, points or credits, the estimated cash to close, and the APR, which folds certain fees into a yearly cost figure.
Terms and program fit
- Lock period and terms: a 30-day lock and a 60-day lock are priced differently, and you should know what extending costs.
- Turn times: a slow underwriting desk can jeopardize a closing date.
- Underwriting flexibility: some lenders handle complex income or credit files better than others.
- Program availability: Conventional, FHA, VA, USDA, Non-QM, DSCR, Jumbo, and Physician loans are not offered equally everywhere.
Two mistakes come up repeatedly. The first is comparing an advertised rate from one lender against a fully quoted scenario from another. Advertised rates usually assume strong credit, a specific LTV, and often points, so they are marketing anchors, not offers. The second is the belief that the lowest rate means the lowest cost. If the low rate requires 1.5 points and you sell or refinance in three years, the cheaper-looking loan may cost more.
A Worked Dollar Example: Same Loan, Different Pricing Structures
Every figure in this section is hypothetical and used only to show the method. These are not offered rates, and nothing here is a rate quote or a guarantee of approval.
Suppose a $400,000 purchase with 20% down, which makes a $320,000 loan on a 30-year fixed term. Two pricing options come back for the same scenario:
- Option A: 6.00% with 1 point ($3,200 upfront)
- Option B: 6.25% with a $1,600 lender credit applied to closing costs
Monthly principal and interest comes from the standard amortization formula, M = L × [r(1+r)^n] / [(1+r)^n − 1], where r is the monthly rate and n is 360 payments.
Option A: r = 0.06/12 = 0.005. (1.005)^360 is about 6.0226, so M = 320,000 × (0.005 × 6.0226) / 5.0226, which is about $1,918.56.
Option B: r = 0.0625/12 = 0.0052083. (1.0052083)^360 is about 6.4782, so M = 320,000 × (0.0052083 × 6.4782) / 5.4782, which is about $1,970.30.
The monthly difference is roughly $51.74 in favor of Option A. The upfront difference is the $3,200 point paid in A plus the $1,600 credit forgone in B, a swing of $4,800.
Break-even is the upfront difference divided by the monthly saving: $4,800 ÷ $51.74 is about 93 months, a little under eight years. If you expect to keep the loan and the home beyond that, Option A costs less overall. If you might sell or refinance sooner, Option B is the cheaper path, and it also lowers your cash to close.
Neither option is correct in the abstract. The comparison exists so the choice follows your timeline. For general market context only, the Freddie Mac Primary Mortgage Market Survey publishes weekly national averages; check its current reading before relying on any benchmark, because it moves and your own quote will differ with your scenario.
Named Wholesale Lenders Compared by Specialty
The table below shows where several lenders on Duane Buziak’s roster tend to fit. It is a map of specialty, not a ranking, and it carries no pricing. Guidelines change, so program availability for your scenario is confirmed at the time of quote.
| Lender | Known specialty | Typical borrower fit | Notes |
|---|---|---|---|
| A&D Mortgage | Non-QM and alternative-documentation lending | Self-employed borrowers, investors | Income documented outside standard tax-return methods |
| Angel Oak Mortgage Solutions | Non-QM and alternative-documentation lending | Borrowers who do not fit agency guidelines | Compared on program terms, not only rate |
| Arc Home LLC | Non-QM and alternative-documentation lending | Self-employed borrowers, investors | Program menu reviewed per scenario |
| UWM | High-volume agency lending | Conventional, FHA, and VA purchase and refinance | Wholesale-only, accessed through brokers |
| PennyMac | High-volume agency lending | Standard agency scenarios | Broker channel pricing |
| Newrez | High-volume agency lending | Standard agency scenarios | Broker channel pricing |
| Deephaven Mortgage | Non-QM, flexible underwriting | Self-employed borrowers | Alternative income documentation |
| FNBA | Flexible manual-underwrite scenarios | Files other Non-QM shops decline | Case-by-case review |
| Orion Lending | Down payment assistance and grant programs | Buyers needing down payment help | Eligibility depends on program rules |
How to read the table
UWM, PennyMac, and Newrez are large-volume lenders in the agency space, so they are natural first stops for conforming scenarios with clean documentation. For those loans, the comparison usually comes down to price, credits, and turn time. When income is hard to document the conventional way, the conversation moves to A&D, Angel Oak, Arc Home, and Deephaven, where the question is which program’s guidelines your file actually satisfies.
FNBA is relevant when a scenario has been turned down elsewhere and needs a manual underwrite. Orion Lending is the roster lender to look at for down payment assistance and grant programs, and eligibility there depends on the specific program’s rules.
Which Borrower Profile Matches Which Comparison
The useful comparison depends on who you are, because the variables that matter change from one borrower to the next.
Homebuyers. Most compare Conventional, FHA, and VA options on the same property. Eligible veterans should compare VA terms; a VA cash-out refinance can go up to 100% LTV, while a conventional cash-out refinance maxes out at 90% LTV, and the two limits should never be blended. VA eligibility starts with the Certificate of Eligibility, which can be pulled electronically using your SSN and date of birth. Buyers short on cash can ask about down payment assistance through Orion Lending. Loan size also matters: the FHFA publishes annual conforming loan limits, and a loan above the county limit moves into jumbo territory with different pricing.
Real estate investors. Investment loans, especially DSCR and other Non-QM programs, are underwritten differently, and program guidelines often matter more than a few basis points. Reserve requirements, minimum credit scores, and how rental income is counted can decide whether a deal closes at all.
Self-employed and credit-challenged borrowers. Bank statement and flexible-underwrite lenders are the starting point. Carrington Mortgage Services is known in the market for working with a range of credit profiles, and Duane Buziak confirms fit and current guidelines for your file before suggesting any lender.
Realtors. Through the realtor partnership program, agents can ask for a side-by-side quote for a client, which makes it easier to compare offers and show a buyer’s real cash to close. A clearer financing picture also helps a buyer write a stronger offer.
How to Get Your Own Wholesale Rate Comparison From Duane Buziak
The process runs in five steps:
- Pre-qualify with no credit impact. This gives a realistic picture of what you can borrow without a hard credit pull.
- Share your scenario. Purchase price or value, down payment, property type and use, credit range, and timeline.
- Receive multiple lender options. Duane Buziak returns pricing from lenders matched to your program.
- Compare Loan Estimates. Review rate, points or credits, cash to close, and APR line by line.
- Lock. Choose the lock period that fits your closing date.
Having documents ready speeds everything up: recent pay stubs or income documentation, bank and asset statements, a government ID, and details on the property, including the purchase contract if you have one.
Duane Buziak is licensed in VA, FL, TN, GA, DC, NC, SC, and MD. The service is national in scope, but state licensing should be verified for your property location before you proceed. In South Carolina, the relationship is a broker-only one. You can check Duane Buziak’s license on NMLS Consumer Access (NMLS #1110647). To talk through a scenario, call 804-212-8663.
Frequently Asked Questions on Wholesale Mortgage Rate Comparison
What is a wholesale mortgage rate comparison?
It is a side-by-side review of pricing from several wholesale lenders on one identical loan scenario. A broker submits your credit, LTV, occupancy, and loan type to each lender, then lays out rate, points or credits, and costs so you can judge total cost instead of a headline rate.
What is the difference between wholesale and retail mortgage rates?
Retail rates come from a lender dealing directly with you, who can quote only its own pricing. Wholesale rates are offered to brokers, who can submit one scenario to multiple lenders. The difference is mainly access and choice, not a guarantee of a lower price on every loan.
Can I get PennyMac’s wholesale pricing through a broker?
Yes, a broker with a wholesale relationship can submit eligible scenarios to PennyMac’s broker channel. Duane Buziak has that access as an independent broker, not as a PennyMac affiliate. Pricing depends on your scenario, program, and the lender’s guidelines at the time of quote.
How does a broker compare UWM and Newrez?
The broker quotes both on identical inputs: credit score, LTV, occupancy, loan type, and lock period. Then the results are compared on rate, points or credits, cash to close, APR, turn time, and program fit. Neither lender is automatically ahead; the scenario decides.
How do I compare Loan Estimates?
Line up the estimates and compare the interest rate, origination charges, points or credits, estimated cash to close, and APR. Make sure each uses the same loan amount and lock period. The CFPB’s Loan Estimate guidance walks through each section of the form.
Are discount points worth paying?
They are worth it only if you keep the loan past the break-even point. Divide the upfront cost of the points by the monthly payment savings. If you expect to sell or refinance before that many months pass, a higher rate with a lender credit may cost less overall.
What is a lender credit?
A lender credit is money the lender applies toward your closing costs in exchange for a higher interest rate. It lowers cash to close but raises the monthly payment. Credits can support no-out-of-pocket closing options in some scenarios, depending on pricing and program rules.
Does pre-qualification affect my credit score?
Pre-qualification through Wholesale Mortgage Rates by Duane Buziak has no credit impact. A full application later requires a credit check, and multiple mortgage inquiries within a short window are typically treated as one inquiry by scoring models, but confirm timing with your loan officer.
What is a rate lock, and how long should it be?
A rate lock holds your quoted pricing for a set period, commonly 30, 45, or 60 days. Choose a period that covers your expected closing date with some margin. Longer locks can be priced higher, and extensions usually carry a cost.
Can I compare rates if I am self-employed or an investor?
Yes. Non-QM and DSCR programs from lenders such as A&D Mortgage, Angel Oak, Arc Home, and Deephaven use alternative documentation. For these loans, guidelines and eligibility often matter more than small rate differences, so the comparison focuses on which programs your file fits.
Compare on Identical Inputs, Then Decide on Total Cost
A fair comparison does two things: it quotes every lender on the same scenario, and it judges the results by total cost over the time you will keep the loan, not by the lowest rate on the page. Everything else, from lock terms to program fit, sits on top of those two rules.
Dream home within reach? Get your personalized rate estimate today with no credit impact and see exactly what you qualify for with the Mortgage Maestro’s expert guidance. You can also call Duane Buziak at 804-212-8663 and ask for a side-by-side comparison through Wholesale Mortgage Rates by Duane Buziak.
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