One advantage of working with a mortgage broker instead of a banker is the lender credit. The lender credit is a credit towards closing costs. This credit represents the excess premium from the lender after paying the broker’s commission.
Brokers get paid a fixed percentage of the loan amount from the lender for each transaction.
If the bond price for the interest rate is in excess of the fixed compensation, the balance goes to you, the consumer, to offset your costs.
You can receive a competitive rate, and money towards your costs; just another reason why you should consider a mortgage broker for your loan!
We are a mortgage broker and have given many clients a lender credit towards their costs.
Contact us and we can see if we can get you a lender credit, too!
We offer a variety of products and services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
AZ MB #0909580
CA DBO #60DBO43873
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