Thursday, December 15, 2011

Question about fee informations from morgage broker?

i am talking to a morgage broker and in a fee information sheet , he put down that


1- Morgage brooker compensations fee is for 5070$


2- you have to pay broker fee at or before closing at the amount of 10145$





is this smth i have to go for , a rip off , any suggestions are welcome.|||it depends. What type of loan are you doing?


What is the interest rate?


What is your credit score?


Is this for a purchase or refinance?


What state are you in?|||What is the loan amount,





Talk with another broker and ask for a Truth-In-Lending,





Look at the first box, APR and compare those numbers together. This is your int. rate and your closing costs. (make sure the programs are the same, ie 30 year fixed not prepayment) This will be on your TIL as well.





Best of luck

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