Question 1

Is a flat $5,000 fee really all I pay in lender compensation?

Accepted Answer

Yes. The loan officers we connect you with have agreed to cap their total compensation at a flat $5,000 regardless of your loan amount — no hidden percentages, no yield spread premiums, no back-end fees. You'll see it clearly disclosed on your Loan Estimate in Section A (Origination Charges).

Question 2

How does a flat fee affect my interest rate?

Accepted Answer

We're an education and referral platform, so we don't quote interest rates or discuss specific loan pricing — that's handled exclusively by the licensed loan officer you're connected with. Borrower-paid compensation (a disclosed flat fee) and lender-paid compensation (a fee embedded in your rate) are two different structures with different tradeoffs. Your matched loan officer will explain both options and help you determine which is better for your situation.

Question 3

What types of loans are available?

Accepted Answer

The loan officers in our network handle conventional, FHA, VA, and jumbo purchase loans, as well as rate-and-term and cash-out refinances. The flat $5,000 fee cap applies to purchase loans and refinances. We also connect borrowers with HELOC options through our network — however, HELOCs are a different product with different compensation rules, so pricing is not a flat $5,000.

Question 4

What if my loan amount is small — is the flat fee still worth it?

Accepted Answer

On very small loans (under ~$180,000), the 2.75% fee would be less than $5,000. We're transparent about this: if your loan is under $180,000, you should compare the flat fee against the percentage-based fee to see which is lower. The loan officers we connect you with will always tell you honestly.

Question 5

How do I get the most accurate quote comparison?

Accepted Answer

The key is to make sure every lender is quoting the same loan. Give each one identical information: loan type, loan amount, estimated credit score, property value, and the same interest rate. When you lock the rate, the only variable left is fees. Ask each lender to disclose their total origination compensation separately from third-party fees (appraisal, title, escrow). A lender who won't answer that question clearly is a red flag.

Question 6

What's the difference between 'lender-paid' and 'borrower-paid' compensation?

Accepted Answer

With lender-paid compensation, the lender's fee is built into your interest rate — you pay it over 30 years through higher monthly payments. With borrower-paid compensation, the fee is a transparent upfront cost, and you get a lower interest rate in return. Borrower-paid is almost always better for borrowers who plan to keep the loan. HowToMortgage101 educates you on both options so you can make the most informed choice.

Question 7

Are there other closing costs beyond the $5,000 fee?

Accepted Answer

Yes — like all mortgages, there are third-party costs such as appraisal, title insurance, escrow fees, and prepaid items (taxes, insurance). These go to third-party service providers and are the same regardless of which lender you use. The $5,000 is a flat fee lender compensation — everything else is standard.

Question 8

How do I get started with HowToMortgage101?

Accepted Answer

Fill out the short form on our website and we'll match you with a licensed loan officer in our network. HowToMortgage101 is an education and referral platform — we don't discuss rates, loan programs, or payments directly. Once your information is submitted, your matched loan officer will reach out to walk you through your options and explain every fee on your Loan Estimate.

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