Description
When shopping for a mortgage, many home buyers enlist the
Services of a mortgage broker to find them the best terms and
Rates. Since the real estate market crash in 2008, however,
The business practices of brokers have come under scrutiny.
Mortgage brokers have regular contact with a wide variety of
Lenders, some of whom you may not even know about. The
Alternative to working with a broker is to call up dozens of
Lenders and compare their mortgage terms and rates on your
Own. A broker saves you the time and headache of having to do
That. A broker also can steer you away from certain lenders
With onerous payment terms buried in their mortgage contracts.
There are several different types of fees that can be involved
In taking on a new mortgage or working with a new lender,
Including origination fees, application fees, and appraisal
Fees. In some cases, mortgage brokers may be able to get
Lenders to waive some or all of these fees which can save you
Hundreds to thousands of dollars.