The fees charged by a mortgage broker aren't always clear. While a lender may pay the mortgage broker a fee of one percent or two percent of the loan amount, some brokers won't disclose these fees. A lender can justify its fee by charging a borrower an origination fee, application fees, or other costs, or by imposing a higher...

The fees charged by a mortgage broker depend on the transaction and are typically set at one to two percent of the loan amount. The borrower and lender must disclose the fee structure prior to proceeding with the transaction. Brokers cannot earn more than the disclosed amount. For example, if a borrower applied for a loan for $500,000 and was...

A mortgage broker can save you time in many ways. Getting a mortgage pre-approval can take hours, and a mortgage broker will handle all the back-and-forth communication to keep your transaction on track. You may prefer one lender over another, but a mortgage broker can access multiple lenders for you. This can result in a lower interest rate, which...

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