Timeline for Is there any reason to have a mortgage broker when refinancing with a specific company?
Current License: CC BY-SA 3.0
11 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 6, 2018 at 7:29 | history | tweeted | twitter.com/StackFinance/status/970924239191793664 | ||
| Mar 6, 2018 at 0:11 | history | edited | Brythan | CC BY-SA 3.0 |
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| Mar 5, 2018 at 23:20 | answer | added | TTT | timeline score: 2 | |
| Mar 5, 2018 at 21:57 | comment | added | D Stanley | @user2932 They are the same. I've only ever heard it called "origination fee" - "broker fee" may be a colloquial term. It's compensation to the bank or broker for the work of setting up the loan. Bottom line - don't expect to save 1% of the loan amount by going directly to the bank. | |
| Mar 5, 2018 at 21:54 | comment | added | user2932 | @DStanley - is that fee added only when there's no broker (and becomes a broker's fee if there is one)? | |
| Mar 5, 2018 at 21:29 | answer | added | Simon B | timeline score: 1 | |
| Mar 5, 2018 at 20:20 | comment | added | D Stanley | Note that the ~1% origination fee will likely be added by the bank as well, so you may not be saving much by going directly to the bank (all else being equal). | |
| Mar 5, 2018 at 20:01 | comment | added | Joe | This question needs a country tag, I believe. | |
| Mar 5, 2018 at 19:45 | answer | added | Rupert Morrish | timeline score: 2 | |
| Mar 5, 2018 at 15:48 | comment | added | Pete B. | You do not need a mortgage broker. You are very likely to obtain a better rate without one. | |
| Mar 5, 2018 at 15:24 | history | asked | user2932 | CC BY-SA 3.0 |