GFA - Closing Cost Breakdown

[apeydee416]

Question, as I am looking over my GFE I am noting some costs that appear to be on the high side. Can my lender charge me more than they actually had accrued for the cost of services?

Example: My appraisal fee is $475 - but the invoice on the appraisers report notes $450 (not a huge difference, but you know).

                Also, $75 for a credit report seems pretty high too.

Insight?

[mynameainttracy]

Our appraisal charge says $415. It hasn't been done yet and I have no idea what the real cost is. The credit report charge is $23.

$75 is very high.

[StartingOver10]

Read this explanation by Shanethemortgageman on the GFE first, then specifically call your LO and ask why they are charging X for those services? Mention specifics like you have here and tell us what he says.  To me it sounds like he is padding where he can in case he under estimates a charge and he doesn't want to be penalized, JMO.

Is this a broker you are using?

http://ficoforums.myfico.com/t5/Mortgage-Loans/Understanding-the-New-2010-Good-Faith-Estimate/m-p/73...

[frugalQ]

S10 is correct.  My LO explained to me that she padded my GFE just in case some things to ensure that our cover any underestimates in other areas.  Your HUD-1 will have actual/real closing costs.  They will probably be lower, and we will get the difference back at closing.

[Hopeforchange]

Just ask. Our GFE was so inflated it was almost double.