Hello All: I decided to go with a new build with DR Horton-Using DHI Financing Company. I received the GFE today and wanted feedback from the knowledgeable people here. Any advice, questions or alerted info is appreciated. GFE goes:
Loan Summary:
Initial loan amount: $151, 937.00
Term: 30 year
Interest rate; 5.0
Initial monthly amount owed for Principle, Interest and any mortgage ins: $815.64 per month
Adjusted originationation charges:
1. Our origination charges: 1359.69
2. You pay a charge of 1139.53 @ 5.00%= 1139.53
Your adjusted Origination Charges: 2499.22 (I don't understand that)
Your Charges for All Other Settlement Services
3. Required services that we select:
Appraisal Fee: 425
Mortgage Ins: 3197.91 (I'm going VA, thought this wasn't required)
Final Inspection: 100
Total: 3722.91
4. Title services and lender's insurance: 1157.50
5. Owner's title insurance; 825.00
6. Required services that you can shop for:
Survey: 550.00
Pest Inspection: 175.00
Total: 725.00
7. Government Recording charges: 220.00
8. Transfer taxes: 1933.62
9. Initial Deposit for escrow account: 2358.94
10. Daily Interest Charges:
This amount is $20.81 per day for 16 days if your settlement is 6/15/2010
Total: 332.96 (Don't understand this)
11. Homeowner's insurance: Hazard Insurance Premium: 660.00
Your charges for all Other Settlement Services: $11, 935.93
Total Estimated Settlement Charges: $14435.15
What do you all think: Good, Bad, Average???? Thanks!
(I apologize for the length)
-YesICan42
