A broker can be paid either with Borrower Paid compensation or Lender paid compensation. The point is likely the broker's compensation and these itemized fees go direct to the lender.
If you want to pay 0 points you can usually request that of the broker, in exchange for a slightly higher rate.
The broker rates are lower than the retail rates for whatever lender the broker is using--so it should not cost you any more to use a broker than to go to the retail branch.
The GFE (Good Faith Estimate) is the most important place for you to see what your fees are and what the compensation to the broker will be.
they are within an acceptable range...before choosing a lender you should get cost/fees estimates from several...make sure you get loan preapproved not just prequalified to make your purchase offer more competitive...learn more here
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Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
Congratulations on your purchase or refi!
If you're going through a mortgage broker, generally the Application/Processing and Underwriting fee goes to the lender, the appraisal goes directly to the appraisal management company designated by the lender, credit report is an actual charge passed through from the reporting agency. The flood and tax certificate items are items required by the lender. Your broker will be compensated by your point and/or YSP.
You should ask your broker to explain all fees thoroughly to you, but if you're just looking for a second opinion, it does appear from this list that none of these fees would be paid to the broker, and they all appear to be standard fees (if not a little lower) than we see in the industry.
Jackie Cuneo, Mortgage Advisor, Opes Advisors
The fees you've listed are all within a normal and accepted range. Only the application fee may go to the broker. The u/w is usually for the lender. The rest go to the third parties who provide the service or report.