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Please take a look at my GFE (first one)

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Anonymous
Not applicable

Please take a look at my GFE (first one)

This is my first GFE it seems a little high to me but I dn't knw much about mortgages.  My stats are $37,000 a yr. Credit Scores: 685, 660, 599. My monthly expenses are $185 a month

FHA30

loan amt $129,616

Int rate 6.500

801 Loan Origination Fee Broker: 1.000 % $ 1,270.75 Borrower

803 Appraisal Fee Other: $ (375.00) Borrower (prepaid)

804 Credit Report Other: $ (15.00) Borrower (prepaid)

809 Tax Service Fee Lender: $ 77.00 Borrower

810 Processing Fee Broker: $ 550.00

811 Underwriting Fee Lender: $ 545.00

812 Wire Transfer Fee Lender: $ 20.00

813 FLOOD CERT Lender: $ 7.50

814 ADMIN FEE Broker: $ 500.00

1101 Closing/Escrow Fee: $

1105 Document Preparation Fee Other: $ 75.00 Borrower

1106 Notary Fees $

1107 Attorney Fees Other: $ 450.00 Borrower

1108 Title Insurance: Lender: .250% OF L/AMT $ 293.25 Borrower

1109 Courier Fee Other: $ 65.00 Borrower

1110 Ga Res. Tax Fee Other: $ 6.50 Borrower

1201 Recording Fees: Other: $ 65.00 Borrower

1202 City/County Tax/Stamps: Other: $ 351.90 Borrower

1204 $

Estimated Closing Costs 

$ 4,276.90

901 Interest Lender: for  20 day(s) @ $ 23.4029 / day $ 468.06 Borrower

902 Mtg Ins. Premium Lender: $ 2,541.50 Borrower

903 Hazard Ins. Premium Lender: 12 mth(s) @ $ 52.95 / mth $ 635.40

1001 Hazard Ins. Premium: Lender: 2 mth(s) @ $ 52.95 / mth $ 105.90 Borrower

1002 Mtg Ins. Premium Reserves Lender: $ Borrower

1004 Taxes & Assessment Reserves 9 mth(s) @ $ 130.00 / mth $ 1,170.00 Borrower

Estimated Prepaid Items / Reserves

$ 4,920.86

TOTAL ESTIMATED SETTLEMENT CHARGES

$ 9,197.76


Message Edited by crockett2 on 09-26-2008 07:31 PM

Message Edited by crockett2 on 09-26-2008 07:31 PM

Message Edited by crockett2 on 09-26-2008 08:41 PM
Message 1 of 3
2 REPLIES 2
BrianB_The_Loan_Professor
Valued Contributor

Re: Please take a look at my GFE (first one)

This looks familiar?
The rate is a little high for the fees. Not all fees are controlled by the broker.
I would either negotiate for a lower rate
less fees or shop for a better deal
 
Good Luck
Brian
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
Message 2 of 3
Anonymous
Not applicable

Re: Please take a look at my GFE (first one)

Your closing cost are more than mine and my loan amount was twice as much.  Did you go to a bank or a mortgage broker?
Message 3 of 3
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