@Beasley12 wrote:
Purchase agreement: The builder "added in" the closing costs to the price of the home. This increased the cost by $5000.
Loan application: Closing costs are listed on the "estimated closing costs" line.
Why are closing costs added twice?
Second question: Why is their a loan origination fee and a lender fee?
Please help me out someone....quickly.....because something feels wrong here.
the closing costs are shown and then they issue a blanket credit for them.
the credit should show on the paperwork.
2nd question. fees are fees. they can be called whatever. if they are high, then you should be getting a great rate. if they are low, then some are likely covered by a higher rate.
some people like to talk about junk fees. well, that really isn't what they are. lender has a set fee(named many things) that they want to do the loan. it is usually competitive with the market. if they exclude any fees, they cover them with a higher rate.
you need to have another lender see your gfe and explain in detail.....
Retired Lender
