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Questions tagged [mortgage-brokers]

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4
votes
2answers
132 views

Qualify for mortgage with projected property income?

I’m qualified by my own income for a mortgage of X amount. But I want to qualify for a house of Z amount. The property I purchase will be subleased to other tenants. I know I’ll be able to afford ...
0
votes
1answer
36 views

MBS vs Corp or Muni bond. Please explain the difference

How are MBS different from corporate or municipal bonds that have a coupon attached? For example, if I invest 25,000 per year, how do I get the return? Is there a fixed coupon? Also, I heard of ...
4
votes
2answers
226 views

Mortgage Adviser Signed Me Up For Multiple Home and Life Insurances (UK)

So, back in 2016 we bought our home with the help of a mortgage adviser. During the process they signed us up for home insurance and life insurance. At the time I (perhaps stupidly) believed they ...
3
votes
3answers
106 views

Is there any reason to have a mortgage broker when refinancing with a specific company?

If I'm refinancing a residential home, and already know exactly which company I will use to obtain a mortgage from (and at which rate), is there any value in working with an independent mortgage ...
0
votes
2answers
94 views

Cashing out equity in mortgage to pay for another one?

Let's say I get a mortgage on a house next week. In 2 years time I decide I'd like to move to another city within my country (UK). If I wanted to cash out the equity I've already put into the house at ...
16
votes
3answers
5k views

Mortgage sold to yet another servicer. What are my options?

I purchased my first home back in June (roughly 2.5 months ago) with a smaller, but very reputable, mortgage firm in the area (Maryland). It has great reviews online, and everyone whom I know that has ...
11
votes
4answers
5k views

Why the interest does not stop on the day of paying off the whole loan

We are trying to pay off our 20 years fixed mortgage after 12 years and when I called the mortgage company and asked for the balance (in my calculation is only 57000 of the principal left) the ...
6
votes
1answer
1k views

Should I give my mortgage broker access to my bank account?

Is it safe to allow a mortgage broker to access my finances? They are requesting it in order to present account balances to our home loan issuer, and while I wouldn't suspect they are scamming us or ...
5
votes
2answers
12k views

Can I work with two or more mortgage brokers at the same time?

When searching for a home loan, can I get two or more mortgage brokers to search for the best rate for me and at the end just choose the one that found the best rate?
4
votes
2answers
2k views

Mortgage broker asking for a rate extension ($1,300) - is this fair?

Here's my situation. I'm working with a mortgage broker to refinance my existing mortgage. I locked in a rate on Feb 14, 2012. The lock was for 30 days. The broker has now told me that they cannot ...
7
votes
3answers
549 views

Disadvantages of getting a mortgage from a mortgage broker?

Are there any disadvantages to getting a mortgage from a mortgage broker? It seems like they would be in your best interest because they save time by shopping around for you. Does it typically cost ...
12
votes
3answers
413 views

What value does a mortgage broker bring? Can they get you a better deal than your bank can?

Many I meet are very salesy. Makes me wonder if they are truly after my best interests? Banks seem so aloof and laissez-faire. The kind of attitude that sends the message that they don't care if I ...