Who pays a mortgage broker? Unlike loan officers, mortgage brokers don't work for banks. They operate independently and must be licensed. They charge a fee for their service, which is either paid by you, the borrower or the lender. The fee is a small percentage of the loan amount, generally between 1% and 2%
Is it a good idea to take equity out of your house? Mortgage Guide This is a good plan if interest rates are currently lower than the rate you have on your old... more