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Report for the US Govt.

Report for the U.S. Government shows Brokers like Carmel Mortgage
save consumers money!

The first-ever independent national study of mortgage broker pricing Vs. direct retail lender pricing found that brokers tend to be cheaper.

The new statistical study, conducted by a research team headed by Georgetown University economist Gregory Elliehausen, examined a massive sample of one-million plus first and second mortgages from the portfolios of 10 major lenders.

The researchers focused on annual percentage rates (APRs) -- the base interest rate plus lender or broker fees -- on loans originated by lender-employed loan officers and independent brokers who originate and sell their mortgages to the same lenders.

  • Broker-originated loans were 1.13 percentage points less costly than lender originated first mortgages, according to the statistical analysis.
  • On second mortgages, the gap was even larger -- broker loans were 1.97 percentage points cheaper.

Carmel Mortgage Broker SAVINGS:

On a $750,00 first mortgage, 1.13 percentage point savings would equal $8757.50

On a $200,000 second mortgage, 1.97 percentage point savings would equal $3940.00

  Carmel Mortgage
29 Navajo Drive
Salinas, CA 93906
Phone (831) 275-0380
Fax (831) 536-1803

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