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Started By
Message
re: Closing on a mortgage cost
Posted on 6/22/21 at 8:47 pm to jfw3535
Posted on 6/22/21 at 8:47 pm to jfw3535
quote:
Origination fee seems high
It is high for origination.
But if that figure includes origination, underwriting, credit, and processing, then it isnt far from normal.
"Prepaids" are not costs on the loan. That includes mortgage insurance premium, home insurance, and setting up escrows. They are settlement charges. Semantics.
1
Posted on 6/22/21 at 8:55 pm to meansonny
quote:
"Prepaids" are not costs on the loan. That includes mortgage insurance premium, home insurance, and setting up escrows. They are settlement charges. Semantics.
But he already has individual line items for some of these, hence the reason I asked.
Posted on 6/22/21 at 9:08 pm to jfw3535
My closing costs were 6k on a 192k house… definitely need to ask your realtor or lender.. thts what you pay those dickweeds for
Posted on 6/23/21 at 9:50 am to Curado Roy
I paid around 7K in cc for my 240K unwarranted condo so I couldn't ESCROW. For a conventional loan I think closing was looking to be between 2400-4K from my memory.
This post was edited on 6/23/21 at 9:51 am
Posted on 6/23/21 at 11:40 am to Curado Roy
Origination is too high - my company changes $1480 including credit report
Also, appraisal is higher than in my area but that may be what your market demands
Also, appraisal is higher than in my area but that may be what your market demands
Posted on 6/23/21 at 12:33 pm to Curado Roy
Are you getting a VA or FHA loan that would have a higher lending fee and costs? That seems double what the normal closing costs are.
Posted on 6/23/21 at 1:14 pm to Curado Roy
They quoted me at $5,000 for my house two years ago. But they said the quote is always high.
I ended up paying $2,500 when I bought my house
I ended up paying $2,500 when I bought my house
Posted on 6/23/21 at 4:12 pm to Curado Roy
Seems high, shop with another lender
Posted on 6/23/21 at 7:29 pm to Curado Roy
That sounds high
we paid $5500 on a 230k house in April, but we got them to split it with us so it would have been like 11k total
we paid $5500 on a 230k house in April, but we got them to split it with us so it would have been like 11k total
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