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Charleston Home Loans ::

Charleston’s only Upfront Mortgage Broker!

No Lender Fees!

Please call me at 843.224.3233 or complete the form below to request your free pre-approval letter.
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FAQ's ::
How can Agent Owned Mortgage save me money?

What we do at Agent Owned Mortgage is “shop” your mortgage loan to various wholesale lenders like Chase Manhattan Bank, Countrywide, Wells Fargo Bank, Citibank and National City Bank. In essence, these wholesale lenders end-up competing for your mortgage loan business.  Therefore, we can offer you great rates!
How are these major money center banks able to provide Agent Owned Mortgage with lower mortgage rates that are better?  Wouldn't their regular banking customers receive the best rates by going into the branch? 

No.  Because overhead costs are less.  You see the banks pay a lot of money for employees.  The mortgage loan officer, loan processor, receptionist effect net margins. These overhead employee costs lower the bank’s net rate of return on mortgage dollars outstanding.

Therefore, Agent Owned Mortgage rates are always lower than what the banks will charge even their most preferred retail customers.  All for the very simple reason of not incurring employees overhead costs.  This will save you approximately .375%  which is also the equivalent of 1.5% of the loan amount.  This means a big savings back to you like $3,000.00 for every $200,000 you borrowed!

How is the Upfront Mortgage Broker representation different from other conventional mortgage brokers?

Agent Owned Mortgage, Charleston's only upfront mortgage broker guarantees full disclosure right from the very beginning. We believe you deserve to know exactly what your yield spread premiums, rebates, and markups equal.

 Don't you want to know the true cost of your mortgage loan before it is too late to change your mortgage loan lender?

Full disclosure and transparency is required by state and federal laws. AgentOwned Mortgage will represent you as the “client” and not the mortgage wholesale lender. All South Carolina resident licensed mortgage brokers represent the wholesale lenders and not you. You will also find this true for  the majority of mortgage brokers in the United States.

The majority of mortgage brokers represent the mortgage wholesale lenders like Chase Manhattan Bank, Wells Fargo Bank and Citibank.  Therefore, they are not required by law to inform you as the borrower regarding all of the mark up costs, rebates, or yield spread premiums involved in your obtaining a mortgage loan. Basically, this means you are paying a higher interest rate on your mortgage loan all without your consent.  The mortgage broker is receiving cash incentives at your expense.

Why is it important for you to work with Agent Owned Mortgage?

It is all about you're being the “client” and not the customer.  At Agent Owned Mortgage, you are the client and that is why you receive the yield spread premiums, rebates, and incentives.  Because we put the clients best interest ahead of ours.

Agent Owned Mortgage gives money back to their clients!  The dollar amount totals hundreds of thousands!  The return of yield spread premiums is the reason that money is being returned to rightful owners. You!  This is why we believe in upfront mortgage disclosure. As a client, you deserve to know exactly how much money the mortgage broker will make for processing your loan.  You work hard for your money and deserve the best rate. 

Commitment of an Up Front Mortgage Broker

1.  The broker will be the customer's representative or agent, and will endeavor to act in the best interests of the customer.

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

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

4  The broker 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.

5.  The wholesale prices from which the broker's selection is made will be disclosed at the customer's request.

6.  When directed by the customer, the broker 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 as soon as it has been received from the lender.

7.  If a customer elects to float the rate/points, the broker will provide the customer the best wholesale float price available to that customer on the day the loan is locked.

8.  The broker will maintain a web site on which its commitment to its customers is prominently displayed, along with any other information the broker wishes to convey.

Wholesale rates vs. Retail Rates

Wholesale Rates- Lowest rates possible based on wholesale lender's daily rate sheets.  These rate are passed on to our clients without typical broker mark-ups, yield spread premiums or rebates.

Retail Rates- Wholesale Lender's Daily Rates Sheets include mark-ups, yield spread premiums or rebates.  This is the money used to pay employee health benefits, salaries and office space.

Hypothetical Example using Wholesale Vs. Retail Rates

A borrower is interested in a home loan in the amount of $247,000 to be paid in fifteen years.
Important questions asked of two mortgage brokers by the borrower:


Agent Owned Realty

Competing Broker

What interest rate can you give me? 5.25% 5.25%
What do you charge for your mortgage services? 1% + $150 Broker Fee 1% Origination Fee
What dollar amount is that? $2620.00 $2,470.00
How much is the rebate that is paid by the lender to the mortgage broker for this interest rate? $1,852.50
(.75% of the loan amount)
(.75% of the loan amount)
Who receives the rebate? The borrower The mortgage broker keeps it as additional compensation.
How much will my out of pocket cost be for your broker / origination services?

(Agent Owned Realty will credit the lender's rebate of $1,852.50 toward our broker fee of $2,470.00 resulting in an actual out of pocket cost to you of $767.50.)
(The origination fee.)
What will you actually get paid for doing my loan? $767.50
(Agent Owned Realty will credit the lender's rebate of $1,852.50 toward our broker fee of $2,470.00 resulting in an actual out of pocket cost to you of $767.50.)
(The origination fee of $2470.00 paid to the mortgage broker by the the rebate of $1,852.50 paid to the mortgage broker by the lender for the rebate.)
This 1% Broker Fee is not equal to 1% origination fee hypothetical example
 is very compelling evidence as to why you need to work with an
Up Front Mortgage Broker.

Definition of Rebates, Mark-Ups and Yield Spread Premiums- Money the wholesale lender is willing to pay the mortgage broker for placing your mortgage loan with them.  This money is paid to the mortgage broker without your consent.  These cash incentives are directly linked to the interest rate you are charged.  The higher your mortgage loan's interest rate, the higher the rebate amount credited to the mortgage broker.  This is money you deserve to keep.

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Mark Costello - AgentOwned Realty


1400 Palm Blvd.


Isle of Palms, SC. 29451


Cell 843.224.3233 - Fax 843.725.6532


Fair Housing Act



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AgentOwned Realty understands and appreciates the importance of our client's privacy and any information you provide us will be kept in the strictest of confidence.


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