The broker fee mortgage is a mortgage obtained from a mortgage broker. A mortgage broker is different from a lender or a bank because they are a middleman. This does not mean that a mortgage broker is bad, they are not.

Mortgage brokers charge a broker fee because they have access to many different lenders and many different programs. They get paid by charging you a fee for their services. This fee is worth it if they do their job and find you a solid loan to take care of your needs.

Make sure that you do compare lenders, and especially their fees. Some lenders want to charge you fees that they don’t need to charge and should not charge you. If you have quotes from a few different lenders and brokers, then you will be able to compare the fees and ask why the lender is charging you for something that another company is not.

There might be a good reason why there is a fee from one lender that another doe not have. You need to ask and most likely you will either get a solid answer or they will waive the fee for you. This is how you work for the best deal and rate on your mortgage.

You should be willing to pay for an appraisal, some document or clerical fees, a title search fee, and a broker fee or loan origination fee. These are all typical fees and most companies have a few other fees that you need to pay, but they all use different names. Just ask your loan officer to explain in detail all the fees to you and ask questions until you are satisfied with the fee and understand it.

Remember, the lender, the broker, and the loan officer are all trying to make a profit off of you, and you should allow them to. If they do their job they will have earned their money and you will not feel bad about them making their money from you.