Bankers Mortgage Corporation Mortgage Broker
in Mortgage Brokers from Bankers Mortgage CorporationUnaffiliated
Bankers Mortgage Corporation Mortgage BrokerUnaffiliated
in Mortgage Brokers from Bankers Mortgage Corporation
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Bankers Mortgage Corporation Mortgage Broker Review
Where does Bankers Mortgage Corporation Mortgage Broker do business?
Bankers Mortgage Corporation Mortgage Broker is a mortgage broker with headquarters in Overland Park, KS. It operates in 50 states (and Washington, DC).
The company was founded in 1989 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does Bankers Mortgage Corporation get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
Bankers Mortgage Corporation offers lender and borrower-paid fee models. Borrowers can choose which model works best for their circumstances. Typically, lender-paid compensation rates result in higher fees for borrowers. However, borrower-paid rates increase the upfront costs of getting a mortgage.
What fees does Bankers Mortgage Corporation charge?
Although cost should not be the only factor when choosing mortgage brokers, it is smart to compare the rates, fees, and services mortgage brokers offer before making a decision.
Does Bankers Mortgage Corporation Mortgage Broker charge broker administration fees?
No, Bankers Mortgage Corporation does not charge a broker administration fee.
Does Bankers Mortgage Corporation charge broker loan origination fees?
No, Bankers Mortgage Corporation does not charge a broker loan origination fees.
Does Bankers Mortgage Corporation Mortgage Broker charge broker upfront fees?
No, Bankers Mortgage Corporation does not charge broker upfront fees.
Does Bankers Mortgage Corporation charge a yield-spread premium?
No, Bankers Mortgage Corporation does not receive a yield spread premium from borrowers. Brokers that are paid a yield-spread premium from lenders have an incentive to steer borrowers to lenders thatt offer higher yield-spread premiums even if they qualify for a lower interest with another lender. This is not always bad for borrowers as it can lower the upfront costs of a mortgage. For instance, borrowers who only plan to hold a mortgage for a few years may find this option cheaper.
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What mortgage programs does Bankers Mortgage Corporation Mortgage Broker offer?
Bankers Mortgage Corporation Mortgage Broker offers the following mortgage programs:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What types of mortgage does Bankers Mortgage Corporation broker?Bankers Mortgage Corporation works with the following types of mortgages:
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- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia