2 Thoughts on How much would a Mortgage Broker make on a $100,000 loan?
  1. Reply
    Jennifer R
    August 2, 2012 at 12:16 pm

    Depends how many points they charge you. Generally brokers make 1% of the loan amount…so $ 1000. But since it is a low loan amount if it is a tough deal my guess is they will tack on an overage which you may never see. Your rate will just be .5% higher than it would be without overage. If you have good credit 750+and the loan to value is under 80% you should be charged 6% or lower on a 30 year fixed

  2. Reply
    Dawni Do Right
    August 2, 2012 at 12:51 pm

    I’ve seen loan origination fees from 1 – 2%. Lenders also make money on loans by charging:

    Underwriting fee
    Processing fee
    Document review fee
    Document prep fee

    and other numerous charges associated to loaning money without calling it a “loan fee”. I’ve even heard of one lender charging a “quality assurance” fee. In addition to the loan origination fee, these other fees can total as much as another 2 – 3% of the loan amount, there by tripling a 1% loan origination fee that seems like a screaming deal.

    Google “Junk Fees”. There are all kinds of names for these fees.

    Do your homework & research. Ask questions. Knowledge is power!

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