What percentage does a mortgage broker get for a refinance loan?
Smoothcat asked:
Wondering how much my mortgage broker will make off of me. I’m getting a $250,000 loan on a $500,000 house w/ $300,000 in equity. Thanks.
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Wondering how much my mortgage broker will make off of me. I’m getting a $250,000 loan on a $500,000 house w/ $300,000 in equity. Thanks.
March 22nd, 2010 at 10:15 pm
generally 1 percent up front and then you’d have to ask them for the yield spread to determine how much they are making off the back end. Chris S
March 23rd, 2010 at 6:03 am
Hi,
The norm is 1% . But as always greed exists where
there is money. Suggest you shop around and deal direct
with the lender. You have enough ammunition .
Rgds…………………. khalilkyd
March 25th, 2010 at 4:28 pm
25% dontcallmewave