re: Why I am glad I had a mortgage broker.

quote:

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What is the "extra money" aka fee you're being charged? Flat? Percentage of sale price?

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The fees worksheet says 1.5% of the sale price, but he is actually charging 1.425% of the sale price. Like I said, it was all made up for the second he had the foresight to grab the rate.

Edit: MikeBRLA's comment had me go back and realize it is 1.5% of the loan, which equates to 1.425% of the sales price using 5% down.

And to those above talking about luck and bets, it was a bet on the direction of the rates. However, he knew to make the lock that second before Bernanke spoke to make those rates the worst I would end up with and to explain to me that if they did go down how he would be able to capture those lower rates.