Lender fees vs. Guaranteed fees?

[Vegas247]

What's the difference between lender fees and guaranteed fees? What is considered a good closing cost for a house that's 390,000 with 10% down 30 year fixed conventional with zero points?

[Vegas247]

Bump

[IOBA]

I may be incorrect, but my understanding is the lender fees are the ones that the lender will charge and pocket, like the loan orignation fee.  

There some fixed, third party costs, like the appraisal, the flood certificaiton, the credit report, etc.  Those might be considered guaranteed fees.  Everyone pays them.  (You might get a seller credit to help cover these costs.)

I average 5% of the purchase price for the sales contract as my closing costs.  A lot will depend on the actual purchase price, taxes, and insurance.  For example, the one property I was looking to purchase had a high purchase price, super low taxes, and outrageous homeowners insurance costs.  In that case, I had to estimate 8-10% of the purchase price for closing fees.  This does not include the down payment.

Any lender can give you a guestimate on costs, verbally or in writing.

I hope this helps.