How mach I have to pay the morgage broker for help me buy my townhouse os 75,000 Thanks?

Asked by Julio, Orlando, FL Sun Oct 14, 2012

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5
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Mon Oct 15, 2012
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Julio,

What you want to do is avoid "OUT OF TOUCH" with reality realtors and completely inaccurate info and very flawed advice for 2012!

DO NOT listen to those who show by their comments just how OUT OF TOUCH they truly are about the mortgage industry here in 2012 who have apparently been out of the country over the last 5 yrs and/or who are completely uneducated and ignorant about all the new rules of lending in America, the mandated disclosures of compensation, mandatory time frames, the info required to just to receive certain disclosures, etc.

Ask yourself this question: Why is it that over the last 5 yrs thousands of Mortgage Brokers have become realtors, but no realtors have become Mortgage Brokers?

FLORIDA MORTGAGE BROKER: Finding the “RIGHT REALTOR”

As a Florida Mortgage Broker who has been in the business since the 90’s, through the highs and lows of this rollercoaster called the Florida Real Estate Market, who has extensive experience dealing with realtors all over Florida, I can't stress to you how important it is to shop realtors in advance. But as you’ll soon see, there are a lot of realtors in Florida who want your business, so shopping for that “Right One” can be overwhelming! There are literally thousands of realtors to choose from in FL, and most are good realtors who will do a decent job and get you a decent deal, but as a 2012 buyer you want an Extraordinarily Good Deal!

They say that approx. 68% of consumers end up working with the first or second buyer's agent they contact. Unfortunately, soon after many buyers feel they commitment to working with the wrong realtor, but feel obligated to work with that realtor throughout the buying process, all the while wishing they had shopped more realtors in advance to find that “RIGHT ONE.”

So here’s a quick 5 item test to help identify that “Right One.”

Find one who:
1. treats you as if you are buying a $5,000,000 property
2. is willing to disclose good credit and scores over 700 with no Foreclosures, BKs or Short Sales
3. has a smart phone so they can answer all your calls and emails quickly throughout
4. is a broker or buyer's agent who does not have to split the 3% commission points
5. is willing to offer Realtor Rebate to buyers willing to get Pre Approved in advance

Then, here’s a simple 2 step way to get your Best Overall Deal…

STEP ONE:
contact the realtors you think you like and listen to what they say they’ll do for you. Then ask them to refer you to their very best “Preferred” or “In-House” Lender. Listen to their best purchase strategy and ask for their best written quote on an estimated sales price, on a TBD (To Be Determined) property address.

STEP TWO:
contact me, I’ll present my best purchase strategy, show you what my realtor partners can do for you. Then compare to see which team offers the best purchase strategy and your best overall deal.

You’ll be shocked at the difference you’ll find with such little effort!

WHAT MY REALTOR PARTNERS CAN DO:
http://www.trulia.com/blog/steve_31/2012/09/gfb_250_000_purchase
http://www.trulia.com/blog/steve_31/2012/08/please_shop_this…

WHAT I CAN DO:
http://www.trulia.com/blog/steve_31/2012/07/2012_loan_progra…

NOTE TO CONSUMERS: shop multiple Lenders and realtors for your Best Overall Deal!

Call me today, I actually answer and return phone calls.

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404

Prior Service U.S. Marine Corps
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0 votes
Annette Law…, Agent, Palm Harbor, FL
Mon Oct 15, 2012
Julio,
Unfortunately, there are so many place for mortgage brokers to hide their fees. The reality is YOU WILL NEVER KNOW what the services of that broker cost you. NEVER! (unless of course you are a mortgage broker and you speak the language and play the game.)
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If fees are of great concern to you, there are options.
#1. Without exception, the lowest cost loan provider are Credit Unions. If your credit is good, this should be your first stop.

#2. Next you should contact local lenders who have a history of supporting the local economy through small business loans and mortgages. Find an "A" or "B" graded lender. Enter your zip code or city name at: http://www.BankingGrades.com

#3. Compel the broker you work with to provide a Good Faith Estimate, NOT A WORKSHEET.
The GFE is what willl actually determine the costs and locks the lender to within 15% of what is quoted. Most brokers will produce a GFE two days before closing, when it WAY TOO LATE to exercise any options you may have.

#4. Any lender offering incentives must reveal the source of the revenue of those incentives. If the funding source is not theirs, be very cautious.

If you have poor credit, you should hold off buying a home until you have reestablished a good credit history, saved sufficient money to make a real down payment and demonstrated exceptional credit discipline.

Finally, you may find the recommendation of your real estate professional to be of great value especially if you are operating with ANY time constraints. Your agent will know which lenders/brokers deliver on time, with minimal hassle and under budget. Be aware, some lenders/borkers will not want your business at all. Wrong property type, too low in price.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
727.420.4041
http://RealEstateMadeEZ.us

First Look: http://youtu.be/PumYpkgybXE
0 votes
Maria Gilda…, Agent, Manchester, CT
Mon Oct 15, 2012
Your mortgage broker will answer that for you.
Ask for a GFE (Good Faith Estimate)
0 votes
Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Mon Oct 15, 2012
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WRONG Dan below!

Thanks to the obama administration’s horrendous and crippling Over Regulations (i.e. Dodd/Frank Act) consumer's options have been severely limited. Only Lenders and Banks can make money on the Front End (points) and Back End (SRP/Service Release Premium) now which has had devastating effects on the industry and has prevented or killed many loans that consumers otherwise could have closed on.

Read here:
http://www.trulia.com/blog/steve_31/2012/08/service_release_…

http://www.trulia.com/blog/steve_31/2012/05/the_fall_and_now…

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404

Prior Service U.S. Marine Corps
==
0 votes
Dan Tabit, Agent, Issaquah, WA
Sun Oct 14, 2012
Julio,
Brokers are paid by either you, the bank they arrange the loan with or by both. Fees are disclosed and can't change without several days prior notification. How much depends on various factors. Each lender can set their own rates and fees.
It's always a good idea to get a couple of different quotes so you can see your options and who will take the best care of you. Best of luck.
0 votes
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