Darren Hendon worked in the mortgage business for years. He sold many home buyers on adjustable-rate loans with low- "teaser" rates that rocket higher, typically after two years. Struggling buyers are turning to nonprofit housing groups in an attempt to keep their homes. Broker fees may come in different forms, either as an addition to your interest rate, a separate fee, or points paid at closing. With all these additional fees, you might find that your best mortgage rate deal may not sound so great after all.
