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This is the first GFE I have gotten so far,Does it look ok?Were in North Carolina
WELLS FARGO BANK, N.A.
30 YR FIXED FHA
125,000.00
Closing Cost
Origination Fee 1% 1,206.25
803 APPRAISAL FEE 495.00
804 CREDIT REPORT 55.00
808-817 COMMITMENT FEE 350.00
808-817 FLOOD LIFE OF LOAN FEE 19.00
808-817 TAX SERVICE FEE-FHA 70.00
808-817 FHA UPFRONT MIP 2,110.00
1107 ATTORNEYS FEE 510.00
1108 TITLE INSURANCE 245.47
1201 RECORDING FEE - DEED 40.00
1201 RECORDING FEE-MRTG/DOT 85.00
1303-1305 WATER TEST 240.00
1303-1305 COURIER/MSNGR-3RD PARTY 45.00
1303-1305 STRUCT ENGNR INSPECTION 200.00
Total closing cost 5,670.72
Prepaid Expenses
Interest - estimated days @15 /day @18.49 277.00
902. Mortgage insurance premium (PMI/MIP) .94
903. Fire and hazard insurance premium: 1 year 1150.00
904. Flood insurance: 1 year (POC) 0.00
1001. Hazard insurance escrow: 4 months 383.32
1002. Mortgage insurance escrow: months
1003. City property taxes:
1004. County property taxes: 5 months 250.00
1009. Aggregate Accounting Adjustment (195.79)
Total estimate prepaid expenses 1865.82
Estimated Cash Required to Close
A) Estimated total settlement costs to be paid at closing 7536.54
B) Estimated closing costs to be financed 2110.00
D) Items paid outside of closing (POC) by 0.00
E) Subordinate Financing 0.00
H) Purchase: Down Payment Amount 4375.00
J) Closing costs expected to be paid by seller(s) 70.00 by the Lender 1206.25 1206.25
K) Estimated cash required to qualify and close
(verifiable liquid assets) (A - B +D - E - F +H - I - J) 8,525.29
ESTIMATED CASH REQUIRED TO BRING TO CLOSING 8,525.29
(IN FORM OF CASHIER'S CHECK
heyy i am not a expert in anyway! i just started this fico thing
but i went thru a builder and usda for a new construction home ( it's still being built) closing date June 30th.
but we don't have to pay anything up front but a $100 earnest money and the builder is paying for closing the only thing we have to bring to closing is
$27.00
and all the feeds i see on your gfe ours is being paid by the builder.
i hope someone is able to help you!!! i just wanted to share my experince
What rate are you getting with the point? Sorry if I missed it.
I'm not an expert but the fees look reasonable to me.