Five Things You Should Know About Working with a Mortgage Broker

May 1, 2017 0

When it’s time to acquire a home loan for your new property, the question will be raised as to whether you should hire a mortgage broker or not. And while you may know that they work for you to get you the best deals, you may not know more about how they operate, or why.

With a little extra knowledge, you can save yourself stress and worry, and find yourself the right mortgage broker for you!

They are paid on commission

It’s important to remember that for their hard work, your mortgage broker deserves to be paid for sealing that extra deal. As such, they’re often paid on commission, meaning that they get a cut of the fee on your mortgage.

Usually it’s about 1% of the total mortgage fee, but it’s not unheard of for them to waive this, … Read the rest....