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What is an Honest Mortgage Broker?
by Joe Metzler, MLO, MMS. Lending in Minnesota, Wisconsin, and South Dakota. NMLS # 274132

It's pretty simple. When looking for a mortgage loan in MN, WI, or SD, you want to get a great deal with no games, from someone who knows what they are doing. That's what you get with us. We keep it simple! Slick advertising is not our game. We are a top MN based lender, and it's not just because of our LOW interest rates. Its because we offer the whole package! We provides fully automated processing, with all of the latest instant approval systems. We even give you instant Email notification for each step of your loan! 

How does an Honest Lender differ vs a typical Mortgage Broker or Mortgage Lender?

There are major differences between an upfront and honest Lender and the average mortgage broker:

Honest lenders disclose their fees to customers in advance and in writing, and disclose the wholesale prices (rates and points) passed through from lenders, and give the client the FULL rebate (if applicable). Customers of honest lenders pay the broker's fee plus wholesale loan prices.  In contrast, conventional mortgage brokers and lenders add a markup to the wholesale prices, and quote the resulting “retail prices” to customers. Most standard lenders reveal their markup only in required disclosures after an application has been submitted, like in the official Good Faith Estimate. Honest lenders will show you on their initial fees worksheet or similar disclosure.

Do you want the lowest possible rate and cost combination for your mortgage loan, but are tired of trying to compare the fine print and determine the bottom-line differences between the quotes made by the various lenders?

We want you to make an informed choice when selecting a lender.

The honest brokers interests are fully aligned with their customers. They can thus represent borrowers in shopping for loans.  In contrast, brokers shopping the market are often in a conflict situation with customers.  For example:

  • The loan type that best meets the customer's needs may not be the one that is easiest for the broker or lender.

  • Bad brokers or lenders may profit by ignoring customer requests to lock the rate/points, putting the customer at risk.

  • Bad brokers or lenders often increase their markup on customers who allow the rate/points to float by not giving them the best available rate (the float rate) when the loan is finally locked.

  • Just because they advertising a lot, does not mean they are good. Usually the more they advertise, the more you should run away.

Honest brokers credit customers with any rebates they receive from third parties. Mortgage brokers and lenders often receive rebates or credits from lenders for the interest rate selected, or concessions from home sellers. Honest lenders fully credit customers for any such payments that would otherwise increase the bank,  lender, or broker’s fee beyond what was agreed upon.  In contrast, banks, brokers, and lenders may or may not credit customers for payments from third parties, depending on the circumstances. 

Why should a consumer choose a local honest lender?

MN, WI, SD online mortgage loan applicationEasy, transparency. For most people, a home is the biggest investment they will ever make. However, few people do the research necessary to make a good buying decision. The home purchase or refinance process is extremely confusing for most people. With a little bit of homework, and some advice from dedicated true professionals, you can make this a little easier on yourself.

There is no substitute for taking the time to educate yourself before you buy or refinance a house, which typically costs you 25% to 40% of your gross income! Buying or refinancing your home in Minneapolis, St Paul, Rochester, Duluth, Madison, Milwaukee, Aberdeen, Des Moines, Fargo, or all of MN, WI, IA, ND, or SD shouldn't take you days or weeks to find a lender. The honest lender gives you immediate comfort you've found the best lenders in the mortgage business.

The basic nature of the mortgage process allows bad brokers and bad lenders the opportunity to mark up the interest rate and/or increase their profit margins above industry accepted margins. All lenders need to make a profit, and everyone getting a home loan should be OK understanding that. But you personally should not pay more than needed.


When dealing with an honest lender, you are assured of fair treatment because of pricing transparency, you get access to wholesale interest rates posted by lenders, you get the benefit of the lender’s expertise and contacts in shopping multiple lenders for the best deal.

Why Choose Joe Metzler, and Cambria Mortgage?

This is the largest single financial transaction of the average person's life. Your choice of Loan Officer to handle it is too important to entrust to just whoever answers the phone.  You need to make a wise choice.

Our list of recent industry awards and recognitions for outstanding service and dedication to the mortgage industry gives you the confidence that selecting us is a great choice.

Recent Awards and RecognitionsTop Loan Officer in MN

2020 - Super Mortgage Professional (Minneapolis / St aul Business Magazine)
2019 - Super Mortgage Professional (Minneapolis / St Paul Business Magazine))
2018 - Super Mortgage Professional (Minneapolis . St Paul Business Magazine)
2018 - Top 300 Loan Officer in the Nation (Origination News)

2015 - Top 100 Loan Officer in the Nation (Origination News)
2014 - Minnesota Loan Officer of the Year (Minnesota Mortgage Association)
2012 - Best Mortgage Professionals in the Twin Cities, based on Customer Satisfaction (Minneapolis St Paul Magazine)

2011 - Top 40 Most Influential Mortgage Professionals to Watch (National Mortgage Professional Magazine)

2010 - Top 150 Loan Officer in the Nation (Origination News)

Worse high priced mortgage lenders, and why

Here is a basic list of some of the worst mortgage lender choices, and why:


Your bank is generally a poor choice because they understand that you believe simply because you've had a checking account there for years, that they will treat you better and give you a good deal. The reality is just the opposite. Because they know you are already comfortable with them, you are not likely to shop for a mortgage loan elsewhere. The reality is this means they know they can get away being higher priced. They also have higher expenses, like advertising and all the buildings they own, so their margins need to be higher.


Just because you've seen them on TV or hear their radio advertising a million times saying how Quick In Loans/i> they are, does not make them a good choice. Actually what makes them a bad choice is because of their advertising. You see, all lenders get their money from the same source on the same day at the same time.  All lenders have essentially the exact same closing costs, and all lenders are basically going to underwrite to the same guidelines. If they spend millions of dollars everyday advertising, and I don't, who needs to have a higher profit margin?


Real estate companies over the past 15-years or so have all started adding their own mortgage divisions, and have their real estate agents aggressively push you to use their affiliated companies (mortgage and title). They use convenience (they are across the hall), or fear (other lenders won't close on time) to get you to use their internal mortgage company. Rarely is the real estate agents internal mortgage company the best deal, because again, they know you are now less likely to shop.


It is completely OK for your real estate agent to suggest a mortgage Loan Officer to you. But if they are suggesting their own company, be very suspicious of their motivation for doing so. If they are suggesting an out side mortgage company, it is usually because they know, through experience that this Loan officer does a great job, has low costs, and great interest rates.

Commitments of a typical honest Mortgage Broker, Bank, or Lender

  • The lender will endeavor to act in the best interest of the customer at all times

  • The lender will establish a price for services upfront, in writing, based on information provided by the customer.

  • The price may be a fixed dollar amount, a percentage of the loan, an hourly charge for the broker's time, or a combination of these.

  • The price or prices will cover all the services provided by the broker.  This includes loan processing, for which customers always pay a broker or lender.

  • On third party services, such as an appraisal, ordered by the lender but paid for by the customer, the lender will provide the invoice from the third party service provider at the customer's request.  Alternatively, the lender may have the payment made directly by the customer to the third party service provider.

  • Any payments the lender receives from third parties involved in the transaction will be credited to the customer, unless such payments are included in the broker's fee.

  • The lender will use his best efforts to determine the loan type, features, and lender services that best meet the customer's needs and to find the best wholesale price for that loan.

  • When directed by a customer who has met lender lock requirements, the lender will lock the terms (rate, points, and other major features) of the loan, and will provide a copy of the written confirmation of the rate lock as soon as it has been received from the lender.  At the same time, the lender will guarantee all fee charged.

  • If a customer elects to float the rate/points, the lender will provide the customer the best wholesale float price available to that customer on the day the loan is finally locked


  Equal Housing Lender

Policies, Procedures, Disclaimers

33 Wentworth Ave E - Suite 290
St Paul, MN 55118

(651) 552-3681  

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Our services available only for properties located in Minnesota, Wisconsin, and South Dakota. Licensed as Cambria Mortgage. NMLS # 322798. . Any use or duplication of any materials is strictly prohibited.  All images, text, and materials Copyright 1998 - 2020 Joe Metzler. This is the private web site of Joe Metzler, NMLS #274132. All Rights Reserved. /font>