No. of Recommendations: 0
... so many people are willing to take out the mortgage, in spite of the 2%-3% transaction costs UPFRONT.


When is the last time you applied for a mortgage? We just got one in December and there were no fees involved whatsoever other than about $250 for the appraisal. We went through a mortgage broker who was compensated by citibank. Our rate was very competitive for similar zero point loans through other institutions.

Of course we still had title insurance, and a home inspection, both of which I would do either way. The broker had tried to impose other fees on us as well, but was told if he wanted our business, he would waive them, which he did.

I'm not one for piling on debt, but it is much easier to get a loan when you don't need it than when you do. Personally, I would go the low cost mortgage route to retain financial flexibility.

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