Jonathan Cronin breaks down what you actually pay in mortgage fees. Brokers typically charge 1% for loans under $7-8 million. Banks usually charge around 0.5%, while agency loans range from 0% to 1% or higher depending on whether you're buying down the rate.
In our industry standard mortgage brokerage fee is 1% of the loan amount. Anything under call it 7, 8 million bucks, we typically get 1% of the loan amount. You start going 8, 9, $10 million will kind of come off that percentage a little bit bigger. Loans we start coming down. We just try to charge like an industry standard fee. Right. The lender fee varies based on type of type of loan, size, et cetera. So, you know, an agency loan can range from no fee to 1% to even higher if we need to buy down the interest rate. Right. A bank, an industry standard fee is probably half a point. So 0.5% of the loan amount. It may be less, it may be more, depending on size. But half a point is probably a good place to start.
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