Online mortgage vs. with a human mortgage broker
March 16, 2017 12:11 PM Subscribe
My partner and I are comparing options for mortgages and getting pre-approvals from several local mortgage brokers and online banks. We’re first time home-buyers and we're perplexed at how much cheaper the online bank's fees are (~$300) compared with a human mortgage broker's fees (~$3000). It seems like there must be catch, otherwise how do mortgage brokers continue to exist? Is there some benefit to using a mortgage broker that we'd miss out on if we went with the cheaper, online option? All mortgage shopping or condo/townhome-buying tips are welcome!