Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

10
Posts
0
Votes
Dean Hiller
  • Professional
  • Broomfield, CO
0
Votes |
10
Posts

Mortgage Broker Fee is not a Closing Cost?

Dean Hiller
  • Professional
  • Broomfield, CO
Posted

I am a bit confused though I guess this makes sense maybe.  Mortgage Broker Fee in my case is paid by lender.  This means it is not a closing cost?  (Please confirm this first question)

The lender generates the LE and the software has my commission in it, but the mortgage broker fee does not show up on the LE so it is a backend cost that must be just affecting the interest rate(ie. higher broker fee, higher interest rate).

IF the Mortgage Broker Fee is instead paid by borrower, does this mean it would be a closing cost in that situation?

thanks,

Dean

Loading replies...