How much does a mortgage broker make in yield spread premium on an FHA mortgage loan?

Posted on Aug 28, 2012 in FHA Information

Question by Ignacio H: How much does a mortgage broker make in yield spread premium on an FHA mortgage loan?
The broker that I spoke with today quoted a 7.125% rate that seems pretty high. He is also charging a 1% origination fee. Am I getting ripped off here?

Best answer:

Answer by Larry T
What does your Truth-in-Lending Statement say?

Have you checked the FHA Website for names of local lenders?

Have you heard of www.naca.com? Their rate is 4.75% and you don’t have to have perfect credit!

What do you think? Answer below!

5avg.rating 29 votes.

One Comment

  1. It would be un-professional to say if the rate is high on what you were quoted. I suggest you go to http://www.bankrate.com and check out

    http://www.fha.gov

    http://www.hud.gov

    http://www.fanniemaefoundation.org

    http://www.fha-home-loans.com

    http://www.freddiemac.com/