Question 1

Is there a broker fee? Who pays it?

Accepted Answer

I work with 125+ lender partners who are competing for my business as well as yours. I can almost always find a lender who will pay my entire fee! If for some reason they won't and you really like that specific lender's terms, it may make sense for you to pay my fee—but I would have a conversation with you before that would happen.

Question 2

Does it ultimately cost more to use a broker?

Accepted Answer

Not at all! While every lender has different rates and different fees, my lender partners offer wholesale rates and pay my fee, allowing me to pass on significant savings to you. I also do the comparison shopping for you, to make sure I find you the best deal that you can qualify for.

Question 3

Are there any upfront application fees?

Accepted Answer

My application is completely free! That said, I do encourage you to purchase your credit report as the first step in the process, since I need a credit report to give you an accurate quote or pre-qualification letter. Right now that fee is $99, which goes entirely to a third party.

If anyone else does not ask you to purchase your credit report, they are usually buying it for you temporarily and charging you back at the closing table—and they can't even give you a copy by law. Pulling your credit first allows you to have your own copy to review as you begin your home buying process.

FAQ

Frequently Asked Questions

Is there a broker fee? Who pays it?

Does it ultimately cost more to use a broker?

Are there any upfront application fees?