Mortgage brokers are legally bound to disclose their brokerage fee structure upfront. This means they must explain who assumes the cost and at what percentage of the total loan amount. If the homebuyer is to assume the cost, they should also explain the payment options. For example, if the...
What they charge can vary greatly, so make sure you do your homework before agreeing to work with a mortgage broker. And ask what they charge before you apply! Mortgage Brokers Are Your Loan Guide Brokers can be very accessible and hands-on from start to finish Which is especially useful i...
Can I Convert My Mortgage to Buy to Let? 03/01/2025 Category:Nicholas Mendes What Can I Do if My Ex-Partner Stops Paying Their Share of the Mortgage After Separating? 03/02/2025 Category:Nicholas Mendes Can I Buy An Over 55s Property for a Parent or Grandparent?
Our team at PierPoint Mortgage of experienced mortgage brokers is ready to guide you through selecting the best loan programs that fit your needs.
View All Can I Convert My Mortgage to Buy to Let? 03/01/2025 Category:Nicholas Mendes What Can I Do if My Ex-Partner Stops Paying Their Share of the Mortgage After Separating? 10/10/2024 Category:Nicholas Mendes Can I Buy An Over 55s Property for a Parent or Grandparent?
Finally, mortgage brokers might differ in how they make money. Some may charge you directly by a small percentage of your loan—think 1-2% of the total loan value. More commonly, they’ll charge the lender by a percentage in that range. Here at Morty, we choose the latter so you don...
The Mortgage Source is extremely proficient at what they do. I closed on December 20th 2017 and the staff at The Mortgage Source made it as easy as the process can be. They new exactly what I needed to provide and kept me informed throughout the process. In addition, everyone was very ...
Many mortgage brokers will meet their clients in person at least once to build the relationship or to get documents, but you can actually do everything virtually with an online mortgage broker. Since the qualifying process is done online, they can ask you more questions without taking more of...
Do Mortgage Brokers Have Conflicts of Interest? Perhaps. Since mortgage brokers usually earn a commission when they bring lenders business, there's room for a fundamental conflict of interest. Also, they could potentially steer borrowers to lenders that pay them better than others (lenders that may...
What's the Difference Between a Mortgage Broker and a Lender? A lender is any financial institution that makes loans and mortgages. Mortgage brokers don't lend money directly: They find lenders for their clients, or, in other words, they work as an intermediary between the lender and the bo...