NOTE: calculators are not a substitute for a pre-qualification as there are other factors that come into play depending on your specific profile and individual program guidelines. In today's lending environment guidelines are often changing. Please contact for an accurate pre-qualification.

I operate from a home-based office, so have very little overhead, no staff, or employees. Becasue of this I pass some of my savings to my clients by offering a 20% Discount on my Mortgage Brokerage Fee (same as Origination Fee) on loan amounts $125,000 and greater. The standard fee is 1% of the loan amount, so .8% will show on both the Good Faith Estimate (GFE) and HUD-1 Settlement Statement. The savings will vary by the loan anmont, but the minimum is $250.

Another way to save is related to the interest rate selected. Within each program there are a variety of rate and point combinations available. A Par rate would be one with 0 points, a lower rate would cost points (interest paid at closing for selected rate) and a higher rate would pay you a credit (the Lender pays a credit for a higher rate, this is called YSP or Yield Spread Premium). Either way these are disclosed on the GFE and HUD-1 but the difference is that the YSP is a direct credit to you on both the GFE and HUD-1 that reduces you origination charges and possibly other closing costs, which depending on the rate can result in additional savings of $100s to $1,000s (this is done regardeless of loan amount). Did you know that Mortgage Brokers are required by law to disclose YSP, but Lenders that also fund the loan (Direct Lenders, Correspondent Lenders, Banks, etc.) also make a premium on rates called SRP or Service Release Premium, but are not required to disclose this additional income ... and don't?