A mortgage broker in Yonkers connects borrowers with lenders to secure home purchase or refinance loans. New York requires all mortgage brokers to be licensed by the Department of Financial Services under Article 12-D of the Banking Law. Brokers in Yonkers understand local property values and can help navigate New York specific regulations like the mortgage recording tax.
What Does a Mortgage Broker in Yonkers Cost?
Typical mortgage broker costs in New York range from 1 to 2 percent of the loan amount. For a 300,000 dollar loan this equals 3,000 to 6,000 dollars. Some brokers charge a flat fee between 2,500 and 5,000 dollars. New York law caps broker compensation at 2 percent for most first lien loans. Costs vary by loan type and borrower circumstances. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
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