Hey Adrian,
What most people forget to mention is that, statistically speaking, you will refinance or sell your home every three to five years. Given this fact, you just need to determine if the diference in payments you are being charged by the banker will be higher than the upfront costs being charged by the broker over the course of 36-60 months.
As far as the trust issue, I am a big believer in knowing who you're doing business with BEFORE you commit yourself either way. The State has a site that you can check up on the loan officers you are considering working with. Here's the link:
http://eservices.psiexams.com/crec/search.jsp
Hope this helps. Best Regards.
LP
- Fri Apr 11 2008, 13:38