I'm refinancing my mortgage. How much will the mortgage broker craft on my loan within increase to closing costs?
Answers:
It depends but ranges from $1500 on up (depending on the size of the mortgage).
A mortgage broker doesn't really save you anything, and in certainty could cost you more than a dealing directly with the lender.
The broker will make a percentage of the origination, mortgage broker allowance ( if charged ) and ysp if any. Source(s): I'm a mortgage banker/broker
"A mortgage broker doesn't really save you anything, and in reality could cost you more than a dealing directly with the lender."
This is downright wrong. Most of the time, a mortgage broker can take you to any wall in town with lower rates and closing costs.
What's your concern as to what he make? Shop around and see if there's a better deal.
while MBs' cost more, they can find better deals than any single
sandbank can offer.
in some cases, when edge #1 says no, the broker can
find a bank that will speak yes
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