Mortgage Network Mortgage Broker
in Mortgage Brokers from Mortgage NetworkUnaffiliated
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Mortgage Network Mortgage Broker Review
Where does Mortgage Network Mortgage Broker do business?
Mortgage Network Mortgage Broker is a mortgage broker with headquarters in Danvers, MA. It operates in 26 states (and Washington, DC).
The company was founded in 1988 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does Mortgage Network 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 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 does not charge a broker administration fee.
Does Mortgage Network charge broker loan origination fees?
No, Mortgage Network does not charge a broker loan origination fees.
Does Mortgage Network Mortgage Broker charge broker upfront fees?
No, Mortgage Network does not charge broker upfront fees.
Does Mortgage Network charge a yield-spread premium?
No, Mortgage Network 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.
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%.
- 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 broker?Mortgage Network works with the following types of mortgages:
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- Washington, DC
- New Hampshire
- New Jersey
- New York
- North Carolina
- Rhode Island
- South Carolina
- West Virginia