Traditional mortgage lenders are financial institutions, such as banks and credit unions, that provide loans to individuals for purchasing homes. These lenders typically require a thorough application process, including credit checks and income verification, to assess the borrower's ability to repay the loan. They offer various mortgage products, including fixed-rate and adjustable-rate mortgages, catering to different financial needs. These lenders often have established guidelines and standards for loan approval, which can make the process more predictable. Borrowers usually benefit from competitive interest rates and terms, as traditional mortgage lenders have access to a wide range of funding sources and resources to support home financing.