Broker House Lending
in Mortgage Brokers from Broker House LendingUnaffiliated
Broker House Lending Review
Where does Broker House Lending do business?
Broker House Lending is a licensed mortgage broker (NMLS# 856693) with headquarters in Louisville, KY. It operates in 2 states.
The company was founded in 2011 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does Broker House Lending get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
Broker House Lending gets paid by lenders. Lender-paid compensation is the most common fee model among mortgage brokers. This fee model can help bring down the upfront costs to borrowers. However, it also gives brokers the incentive of promoting lenders that pay higher commissions.
What fees does Broker House Lending 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 Broker House Lending charge broker administration fees?
No, Broker House Lending does not charge a broker administration fee.
Does Broker House Lending charge broker loan origination fees?
No, Broker House Lending does not charge a broker loan origination fees.
Does Broker House Lending charge broker upfront fees?
No, Broker House Lending does not charge broker upfront fees.
Does Broker House Lending charge a yield-spread premium?
No, Broker House Lending 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 Broker House Lending offer?
Broker House Lending 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%.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- 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 Broker House Lending broker?Broker House Lending works with the following types of mortgages:
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