Explaining who can pay the mortgage broker fee and what it entails.
Who pays for the mortgage broker fee? The short answer is that either the buyer or lender can pay for the mortgage broker fee.
If the buyer pays the mortgage broker fee, you’ll obtain a lower interest rate. However, your closing costs may increase by doing so.
If the lender pays for the mortgage broker fee, the rate most likely will increase. The lenders and the banks are in business to make money, so they have to recuperate the money somewhere.
If you want to learn more about this topic or if you’re looking to purchase a home in Miami or anywhere in the Florida area, give us a call or send us an email. I’d love to hear from you!