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Points Explained |
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What are mortgage points and when, if ever, does it make sense to pay them? |
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Fees Explained |
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What are the 'real' costs of my California Mortgage? This will help explain exactly where your money is going - and where it shouldn't be going...
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Learn More
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Others Are Saying... |
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"The service was great and so was my rate! There weren't any hassles at all - they listened to my concerns, answered all of my questions, plus I got a better rate than I expected."
Thanks again,
G. Frederickson
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Discount Mortgage Broker
A discount mortgage broker is a brokerage that is compensated by the lender rather than by the
borrower. This is made possible by payment of a 'rebate' from the lender to the broker.
Keep in mind that lenders make their money not from fees but from the interest you pay on
the morgage. So lenders will pay a discount broker according to the interest rate they secure
for the borrower. The higher the interest rate charged, the higher the 'rebate' to the broker.
The lower the interest rate, the lower the 'rebate' is to the broker.
This can be advantageous to borrowers that will not be in a loan for more than a few years as
it keeps there are no closing costs. However, your interest rate will be higher than if you
paid some closing costs. What's the right balance for you? It really depends on your situation
and the terms that you are being offered.
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Discount Mortgage Broker - Find the definition of common mortgage loan terms using our
morgage glossary - Apply Online or Call Us Today at 1-888-835-0761...
We don't sell your information to multiple brokers and call it 'competition'
