A monoline is simply a company that specializes in one type of financial service. The monolines that mortgage brokers deal with offer mortgages and do not offer credit cards, investments, bank accounts, etc. like a chartered bank would. Often, the only way to access these specialized lenders is through a licensed broker that is authorized […]
Category: More about mortgage brokers
How much does it cost to use a mortgage broker?
In almost all cases, there is no charge to you for our services. (How could all of this possibly be free to you?? Click here 😉 ) There are rare cases where a broker fee would be charged directly to you. If this situation ever came about we would make sure that you knew up […]
How do mortgage brokers get paid?
Sooooo, if you’re not paying us, how the heck do we make money? we are paid a commission directly from the lender that provides your mortgage the cost is not “hidden” in the mortgage and won’t be charged back to you lenders can do this and still offer the best products without passing the cost […]
How much money will the mortgage broker make from my mortgage?
We get paid a commission that will vary according to the following: the amount of the mortgage the length of your term the type of mortgage you choose the lender that is providing the mortgage We’d love to give you an exact, universal number, but it doesn’t really exist. There are times we get paid […]