topic Good Lord the Fees in Mortgage Loans

Good Lord the Fees

basballguy — Thu, 21 Feb 2013 22:20:58 GMT

So I'm shopping lenders and I have no idea what's normal and what's not....

But 60.00 for a Credit Report? 3200 in other random fees? Never bought a house before but can i expect that from other banks as well? I know these are just estimates.

Re: Good Lord the Fees

Anonymous — Thu, 21 Feb 2013 22:28:27 GMT

Talk to a credit union. Those fees are excessive IMO.

Re: Good Lord the Fees

DallasLoanGuy — Thu, 21 Feb 2013 22:30:37 GMT

are you including third party fees in that?

what are the fees in the 800s section? they are lender dependant. the rest will be the same lender to lender.

Re: Good Lord the Fees

Anonymous — Thu, 21 Feb 2013 22:40:16 GMT

My fees totalled 8000 dollars, that of course included all prepaid items (prop tax/HOA/insurance)

Re: Good Lord the Fees

Anonymous — Fri, 22 Feb 2013 16:18:24 GMT

I agree with Dallas.

Some third party fees are rediculous. Application fees are rediculous. But thats why you should shop.

Re: Good Lord the Fees

chasmith — Fri, 22 Feb 2013 19:06:49 GMT

The only fee I paid for my NACA mortgage was the home inspection, I also had to cover insurance and tax prepaids.

Re: Good Lord the Fees

basballguy — Fri, 22 Feb 2013 19:15:58 GMT

here is what i was talking about:

Settlement Costs Buyer
Loan Origination Fee 0.00% 0.00
Loan Origination Fee ( 2nd Lien) 0.00% 0.00
Loan Discount Points 0.00% 0.00
Loan Discount Points (2nd Lien) 0.00% 0.00
Appraisal 475.00
Credit Report 60.00
Temporary Buydown Points 0.00% 0.00
Tax Service Fee 0.00
Document Prep. Fee 295.00
Owners Title Policy 0.00
Mortgagee's Title Policy 175.00
Recording Fee 168.97
Survey 400.00
Delivery Fee 0.00
Assignment Fee 0.00
Lenders Inspection 0.00
Pest Inspection 0.00
Flood Certification 18.00
Closing Fee 300.00
Underwriting Fee 495.00
Processing Fee 795.00
Closing and Disbursement Fee 0.00
Setup Fee 0.00
Black, Mann & Graham 50.00
--------------------
Total Closing Costs: $3,231.97
===========

Re: Good Lord the Fees

Anonymous — Fri, 22 Feb 2013 19:26:24 GMT

Selling price of home?

Rate?

What type of loan?

Dealing with LO with bank or Broker?

Re: Good Lord the Fees

basballguy — Fri, 22 Feb 2013 19:29:38 GMT

this is just a sample rate at 259k home 3.75 rate. USDA 30 year. Broker? The people that sell your loan after you close?

Re: Good Lord the Fees

Anonymous — Fri, 22 Feb 2013 19:41:37 GMT

They all sell your loan bank or broker. Some will service the loan but it is rare they service it for the life of the loan.

Looks like you can negotiate since they are getting paid on the back end with YSP.

Document prep fee and processing fee and survey. Credit report fee is high also but that varies between brokers and LO. I have seen some charge $100 but it is rediculous.