Mortgage
Broker Agreement
___________________, referred to as BROKER, and the
estate of ___________________, referred to as CLIENT, agree:
Client is desirous of
obtaining a mortgage loan on the following terms:
Loan to be secured by
the following described real property:
______________________________________________________________
Minimum amount of loan:
$____________(___________&___/100 dollars)
Maximum amount of loan:
$____________(___________&___/100 dollars)
Maximum interest rate
as an APR under regulation Z: _____%
Repayment terms:
___________________________________________
Personal guarantees:
_______________________________________
Other terms:
_______________________________________________
BROKER shall act as the
exclusive broker for CLIENT in obtaining the mortgage described above for ___
months from the date of execution of this agreement.
Upon obtaining a loan
conforming to the specifications set forth, BROKER shall be entitled to a
commission of _______% of the principal amount of the loan of the loan.
During the term of this
agreement, CLIENT agrees that it will:
keep the property
insured for a minimum amount of $____ (_______________&___/100 dollars); to
keep the premises in good repair; to inform the BROKER immediately of any
change in rent rolls (if the premises are rented); to provide all reasonable
cooperation requested by BROKER.
CLIENT agrees to
provide upon BROKER’s request:
financial statements or
information regarding CLIENT and any co-signors proposed; bona fide loan
processing fees requested by entities seeking to provide loans to CLIENT, not
exceeding $_____(_______________&___/100 dollars) without the prior
permission of the CLIENT.
BROKER shall give
reasonable and regular status reports to CLIENT regarding all relevant
developments during the period of this agreement to CLIENT.
BROKER and CLIENT shall
mutually non-disclose any information provided by one another and shall take
all reasonable steps to non-disclose the information provided to one another.
Dated:
_______________________________
_________________
Broker
_________________
Client
Mortgage Broker
Agreement
Review List
This review list is provided to inform you about this
document in question and assist you in its preparation. This is standard brokerage agreement that
applies to a mortgage broker.
- Make multiple copies. Give one to each signatory. Keep one with the transaction file.
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