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Mortgage Network Mortgage Broker

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Mortgage Network Mortgage Broker

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in Mortgage Brokers from Mortgage Network

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Highlights
Highlights
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Broker Loan Origination Fees N/A
Broker Fee Payer N/A

Mortgage Network Mortgage Broker Review

Mortgage Network Mortgage Broker services are offered by Mortgage Network, a licensed broker founded in 1988 and based in Danvers, MA. Mortgage Network Mortgage Broker services are available in 26 states (and Washington, DC).

How does Mortgage Network Mortgage Broker get paid?

Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.

What fees does Mortgage Network Mortgage Broker 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 Mortgage Network Mortgage Broker charge broker administration fees?

No, Mortgage Network Mortgage Broker does not charge a broker administration fee.

Does Mortgage Network Mortgage Broker charge broker loan origination fees?

No, Mortgage Network Mortgage Broker does not charge a broker loan origination fees.

Does Mortgage Network Mortgage Broker charge broker upfront fees?

No, Mortgage Network Mortgage Broker does not charge broker upfront fees.

Does Mortgage Network Mortgage Broker charge a yield-spread premium?

No, Mortgage Network Mortgage Broker 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.

Mortgage Network Mortgage Broker Fees
Description
Broker Loan Origination Fees N/A
Broker Upfront Fees N/A
Broker Administration Fees N/A
Yield-Spread Premium N/A

What mortgage programs does Mortgage Network Mortgage Broker offer?

Mortgage Network 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%.
  • 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 Mortgage Network Mortgage Broker broker?

Mortgage Network Mortgage Broker works with the following types of mortgages:
Interest Rate Types Offered Options
Supported Options Unsupported Options
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
  • Hybrid Mortgage
  • Option ARM
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About Mortgage Network Mortgage Broker

Availability

  Available in 26 states and Washington, D.C.
  • Alabama
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Maine
  • Maryland
  • Massachusetts
  • Minnesota
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Vermont
  • Virginia
  • West Virginia

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