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Mortgage Broker
A mortgage broker is by definition a mediator between the borrower and the lender. The mortgage broker’s duties consist of gathering relevant documentation from the borrower. With acquired documentation broker searches for an adequate loan for each individual.
Mortgage Fees
Mortgage fees represent all the expenses associated with applying for a mortgage loan. The fees are paid after the closing of the purchase agreement and fall under the closing costs. The costs of mortgage are mandatory, but some can be negotiated.
Multi-Family
Multi-Family units are the rental properties that can have one or several owners. Small multi-family units are the duplex, triplex, and even fourplex apartments. These are sought after due to the eligibility for conventional loans. The bigger multi-family rentals with over four units will require a commercial loan.