How do Mortgage Brokers charge for their services? Is it a percentage of the loan?
Answers:
Yes they are paid by percentage of the loan. This may be assessed directly to you by points. A point is 1% of the loan, so if you get a $200,000 loan later a point is actually $2000. Everyone makes money base on what you buy the house for. No one is in it for you. The more you pay the more they are given. Source(s): Bought two homes & sold one.
Points.
The edge pays them in points (1 point=$1000). Ultimately you pay them, its only just built into your loan.
Related Questions: