How To Avoid Paying “Garbage Fees” With Your Mortgage Broker!

There are hundreds of websites and mortgage consultants offering cheap refinancing and home equity loans, but sometimes when you dig into the numbers you may discover what I like to call “garbage fees” propping up.

Some residential mortgage brokers can get really creative with their fees.  Here are just a few I’ve seen:

 
- Lender Fees
- Loan Origination Fees
- Document Processing Fees
- Retainer Fees
- Application Fees, etc.

These extra fees can add up to hundreds, even thousands of dollars, and when you’re done paying, you may end up paying more for a refinance loan then you should have!

If you see one of these fees, call your mortgage consultant on it. For example, ask why you’re paying a lender fee if your mortgage broker is already being paid by the lender for the same thing. Otherwise, your broker’s basically charging double what he/she should be.

You probably only get time and a half when you work overtime. Why should your mortgage broker get double time for straight time work?

What’s the most creative sounding garbage fee your broker ever tried to charge you? 

Remember, cheap refinancing isn’t cheap if it winds up costing you more in the long run.

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