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ricknasty Posts:2 2007-02-01 16:56:49 |
Help! Need Closing Cost advice.Here is my good faith estimate list. Tell me if this is about right. CALIFORNIA |
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| The cost of the home is $425,000 with a 20% down payment.
Loan Origination Fee 1,700 Appraisal Fee 350.00 Funding and Review Fee 530.00 Tax Service to Bank 81.00 Wire Transfer Fee 35.00 Flood Determination 8.00 Processin Fee 575.00 Pre-Paid Interest 1,368.57 Escrow Fee to Title company 648.75 Document Preparation To Title Comp 200.00 Lenders Policy to Title Company 489.70 Owners Policy to Title Company 1488.80 Courier/Messenger Fee/Fed ex to Title 90.00 Recording Fees To Title Company 98.00 Hazard Insurance 600.00 Notary Fee 150.00 Pro Rated Property Tax 1729.00 |
| monetspicasso Posts:2 2007-02-01 17:00:25 |
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| look on bankrate.com. Your mortgage company is gouging you on the fees... |
| hunter2 Posts:4 2007-02-01 17:00:51 |
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| The only thing that clangs a bit in my ear is the
Funding review fee of 530. in addition to the 575. processing fee. The rest looks fine. |
| Nancy Kay Posts:42 2007-02-01 17:01:02 |
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| Absolutely normal costs |
| gary d Posts:17 2007-02-01 17:01:27 |
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| L:ots of these sound like junk....go over them one by one with your mortgage person...threaten to find another mortgage source...maybe a credit union, they have less junk fees. |
| Openthathouse.com Posts:5 2007-02-01 18:53:19 |
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| 1. Loan Origination Fee - The person charged you .50 point. Thats very good.
2. Appraisal Fee- Did the company or LO pay this themselves or did you pay for the Appraisal? Reason I am asking is this is where Double Dipping can come in. Client will pay for Appraisal and than get charge again by the LO in Funding. So make sure if you paid the Appraisal they take this out in the Final Hud-1 Statement or DONT SIGN THE DOCUMENT. 3.Funding and Review Fee- JUNK FEE if by the LO or Company. If its the Bank or Lender's Fee than its decent. Not sure who funding your Loan so cant determine 4.Tax Service to Bank - Normal 5. Wire Transfer Fee- Normal 6. Flood Determination- Title Charge and is Normal Fee 7.Processing Fee- Bit high. Could come down some. 8.Pre-Paid Intersest-Normal 9. The rest are Title Fee's and are outrageous. Unless the Seller(s) are paying this than tell them you wont sign. Notary Fee is Crazy especially if you are going to the Title Company to Sign the Documents. Definately make the Seller pay for these Costs by the Title Company. Any more questions feel free to ask. Here to help. |
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