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Mortgage Broker Pitfalls
September 7, 2008
Getting a lower mortgage rate is one of the main reasons people choose to refinance their home loans. If you are a homeowner with good credit you will not have any difficulty refinancing your home mortgage loan. On the other hand, if you have less than perfect credit you will have to put more effort [...]
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August 15, 2008
Junk fees will not be a percentage of your loan amount but will show up as itemized charges ranging from $50 to $1,000 on your Good Faith Estimate and HUD-1 statement. These fees are mostly invented by your mortgage broker and vary from one shady broker to the next. Here are several tips to help [...]
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March 23, 2008
Most people think that to find the lowest mortgage rates you have to find the best mortgage lender and this just simply isn’t the case. The person arranging your loan has more to do with your mortgage rate than you think…choose the wrong person for the job and you’ll overpay thousands of dollars every year [...]
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February 21, 2008
Most homeowners know very little about how mortgage brokers are compensated for their work. They assume that the origination fee listed on their Good Faith Estimate is the broker’s commission for the home loan; however, what you don’t know about mortgage broker fees could cost you a lot of money. Here are several tips and [...]
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October 18, 2007
If you are considering using a mortgage broker to refinance your home mortgage loan, there are several things you need to know before choosing a broker. Mortgage brokers are very similar to used car salesmen as the more you pay the higher their commission will be. Mortgage lenders actually pay an incentive to brokers for [...]
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