Very often I recommend that people stick with local credit unions. Very very often you’ll find you’ll get the lowest rates and the lowest fees by refinancing with a credit union rather than going with a big bank or a broker ... .
Each one is different, but very often it’s easy to become a member. Most often it just requires you to open an account.
The mortgage broke is actually paid by you and the lender in terms of an additional percentage ... that gets built into the fee that you pay ... .
That’s why I think it’s always best to work directly with the lender and ... credit unions really generally do offer the best deals.
Terri Cullen
The Wall Street Journal Online
Personal Finance Columnist
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