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Should I use a mortgage broker?
Total Views: 87 - Total Replies: 7
Mar 30 2008, 7:15 am - By noladragon1211


It is hard for me to really say yes or no but from experience I say cut the middle man go straight to the financier.  Everyone's situation is different and should consult other friends and family if they have used one and how the dealings went.
Mar 30 2008, 11:22 am - Replied by: cassiem0221


I actually recommend consulting your financial institute and educating yourself on ALL the things required to close on a home THEN look at homes that are FSBO.. for sale buy owner as they tend to be CHEAPER and the owner is more likely to tell you the home "defaults" ....
Apr 01 2008, 9:14 am - Replied by: liowkc


A broker will probably save you time and compare all your options for you.  But I think  with the ease of getting information on online, a DIY comparison is a breeze and thus you can do without a broker and save some money.
Apr 02 2008, 12:20 am - Replied by: cassiem0221


Liowkc.. you have a very good point.. A broker probably would do that and if you have the money and do that then ya its good but if you are looking to save money I'd stay far far away! Some brokers charge up to 30% of the sale.. that's 30% you could have in your POCKET!
Apr 02 2008, 9:53 pm - Replied by: liowkc


Not only you save money on the broker fees, I bet the brokers will not have your best interest at heart; he or she will probably recommend a package that yields the biggest comission.  It is worthwhile doing your homework.  Good luck :)
Apr 02 2008, 10:24 pm - Replied by: noladragon1211


brokers charge 1-5% 30% of a sale would be ridiculously high
Apr 05 2008, 1:34 pm - Replied by: sanju123


I would suggest that a broker is very helpful at times,but do not believe him blindly.Use your own instinct and believe in it.The broker does save lot of time and also saves you from possible fraud.
Apr 06 2008, 1:41 am - Replied by: cassiem0221


Sanju you have a very good point. I spoke with a realtor today who was trying to lead me into a big trap of fees. Apparently this company (the real estate company) feels like they should be allowed  to charge not only the SELLER but the BUYER as well. I've NEVER heard of a BUYER having to pay a "service fee" to a realtor .. I told them they were FULL OF IT!
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