Thursday, December 8, 2022

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how much do you pay mortgage broker

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People also ask:

Does it cost more to go through a mortgage broker?
Fewer fees. Mortgage brokers don't work for free, and if you use one, that adds to the cost of your home loan. Generally, mortgage brokers earn a flat fee equal to 1% to 2% of the total cost of the loan. If you pay this as the borrower, it may be part of your closing costs or rolled into the loan amount.
How much do most mortgage brokers charge?
On average, mortgage brokers charge a commission of 2.25% for each loan, but per federal regulations, they cannot charge more than 3% of the loan amount.