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Jeanne Said:

Does all mortgage companies charge a fee just to consulte you?

We Answered:

NO THAT IS A RIP OFF!!
The most they should charge is a fee for the credit report which could be anywhere up to say $35 which is what they pay to pull your report. They only should get fees once the loan closes and it should be a percentage of the loan amount. Try a different company, good luck!

Warren Said:

mortgage fee question,please help?

We Answered:

I'm not sure exactly what you mean by "attorney fee". Is that the document preparation, the title insurance, or something else?

Every good faith estimate - whether through a bank or a mortgage broker - is an estimate and can be quite a bit off, unless it is a service that is directly provided by the person giving the estimate. Usually application fees and other loan fees are set fees, and therefore accurate. Fees for title insurance, property insurance, taxes, and closing can vary widely from the good faith estimates. After all, the estimate is only as good as the person providing it.

I used my own attorney for closing (he also handled the title insurance). That way I was sure I was getting the best rate, and my best interests were being seen to. Your mortgage broker may or may not allow you to do that - sometimes rates depend on you using their people (and they often get referral fees for that).

Good luck!

Kirk Said:

Where can I find Free Lists of Mortgage brokers?

We Answered:

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Hope that helps! I wish you much success & happiness in all your ventures!

Mabel Said:

Mortgage Brokers (Private) vs Mortgage Brokers (Bank)?

We Answered:

The one not working on commission will give you the best loan for yourself. The commission based one will try to stir you to their biggest paycheck. Even if the difference is only a half percent it equates to thousands for the broker.

Alicia Said:

How to get a mortgage while on private disability income?

We Answered:

If you just get a letter from a doctor saying that you will not be able to work for 3 years, you will get the mortgage, that's probably the easiest way to go about it.