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hi jack
any mortgage broker should be able to secure a loan much cheaper than any retail outfit hands down. They also do all the work for you , and their fee should be included in the closing costs. The only trick should be to find a RESPECTABLE one who will work for YOU. There are lots of us around.
You can try to negotiate a loan directly from a bank yourself, but you are playing a tricky game.
You can also try to sell your house yourself for cheaper, Saving tons on a realtor .....but where would u list it? FSBO doesnt have nowhere near the listings as the mls, and BUYERS DONT PAY FOR THE REALTOR SO THEY ARENT GOING TO LOOK THERE.
They will look where THE MOST HOUSES ARE. The MLS . Someone might think your house is their dream home, but will be looking on the MLS for it -not your small corner of some FSBO.
You can also defend yourself in court. You would save HUGE on attorney fees, but may have to spend 30 years in jail because you had NO IDEA how to defend yourself vs a trained attorney. Most would agree they would rather spend the money to get a lawyer to save their butt on whatever charges they are facing.
I have had a whole pile of homeowners who thought they could 'negotiate their refiance /purchase' themselves. They shop around and around and end up confused, frustrated, and left trusting the bank that sweet talked to them the best. Why? They thought they could match wits with banking professionals who are TRAINED to sell them a loan.
A Mortgage Broker is someone who is ALSO trained to go to bat FOR YOU.
The vast majority of loans are now done thru brokers, kind of like an athlete or actor has an 'agent' to negotiate contracts.
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