We explore the reasoned explanations why loan officer payment is detrimental to customers. And now we provide an alternative Better that is— Mortgage loan officers whom don’t receive money commission, ever.

Loan officers would be the point that is main of for borrowers through the entire home loan application procedure at nearly every mortgage company. That’s an important work, appropriate?

In substitution for this solution, the conventional loan officer is compensated 1% for the loan quantity in payment. For a $500,000 loan, that’s a commission of $5,000. Numerous banking institutions pass this expense right through to customers by recharging greater interest levels and origination charges.

We think it is crazy that ?ndividuals are effortlessly charged to cover loan officers who might not be representing their utmost passions. That’s why at Better Mortgage, we don’t spend our loan officers any payment, duration. Alternatively, we pass in the cost cost savings to customers via industry-leading prices, so we spend money on technology to really make the client experience faster more transparent, and a great deal better. In this specific article, we’ll explain why.

1. Your own personal best interest

It’s reasonable for customers to concern whether home mortgage officers are acting within their desires. Read More