| If you are in the process of shopping for a new | | | | broker. |
| mortgage or refinancing you existing mortgage, a | | | | Mortgage brokers are legally permitted to be |
| mortgage broker may be able to help you find a good | | | | compensated for their services; however, you don't |
| deal. You want to be careful with choosing a broker | | | | want to over pay for the broker's service. Fees are |
| that will not take advantage of you; however, a good | | | | always negotiable, if your broker tells you they are not |
| broker can find loan offers you might not have access | | | | negotiable, find another mortgage broker. Carefully |
| to on your own, especially if you have bad credit. Here | | | | review all of the fees associated with your new |
| are tips to help you when working with a mortgage | | | | mortgage. Is the fee there for a reason, such as the |
| broker. | | | | appraisal of your home, or is someone just lining their |
| Mortgage brokers have earned themselves a bad | | | | pockets with your hard earned money? Mortgage |
| reputation; however, this does not mean you cannot | | | | brokers often disguise their fees in the spread of the |
| find a good broker that will help you find the best | | | | interest rate they quote you and the actual interest |
| mortgage. Your challenge when finding a mortgage | | | | rate from the mortgage lender. |
| broker is to weed out the bad apples and find a good | | | | Negotiate Relentlessly With Your Mortgage Broker |
| broker. | | | | Everything is subject to negotiation when dealing with |
| Mortgage brokers are not lenders; they simply place | | | | a mortgage broker; competition between brokers if |
| homebuyers with mortgage lenders for a commission. | | | | fierce, remember they need you more than you need |
| The problem with using a broker comes up based on | | | | their services. If the broker you are interviewing is |
| how that commission is paid. The broker's commission | | | | difficult to work with or seems to be stalling or |
| is often paid by the lender, the borrower, or even by | | | | withholding information, simply find a new broker. As a |
| the points you pay to qualify for the loan. Ideally, if you | | | | homeowner you are the one paying the mortgage, |
| work with a broker you'll want the mortgage lender to | | | | you need to be satisfied that you are getting a good |
| pay the commission and not give any points you pay | | | | deal. |
| to the broker as a bonus. Ask your prospective | | | | To lean more about your mortgage options, including |
| brokers about their fees and how they are | | | | common mistakes to avoid, register for a free |
| compensated; make sure you read all of the fine print | | | | mortgage guidebook. |
| before entering into an agreement with any mortgage | | | | |