LENDER’s FEES on GFE – It appeared to be unreasonably high but I wanted to check with the group.
It appeared to be unreasonably high but I wanted to check with the group.
On Good faith estimate the loan originator stated the following figures to be charged by him/his bank (in addition to credit report fee):
1. Application Fee $495
2. Underwriting fee $795
3. Document review fee $225
Other details: Local MD lender, primary residence, no origination points 20% down, conventional financing.
Will someone please chime in and shed light on these charges?
Thank you!!!
PS I understand these fees always differ from lender to lender, that is why I want to know whether they’re reasonable (in your opinion)
Thanks again
Posted on December 15, 2010 in Uncategorized 1 Answer »
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Claire on 
Matt Goyer
The biggest purchase you will make in your lifetime is not the purchase of a home. It is the purchase of the mortgage that will finance that home. The best practice when looking for a mortgage is to shop lenders prior to finding your home. Pick at least 2 who are LOCAL mainstream lenders who do not have a lot of hidden junk fees and apply to both (double application)when financing your home. In the event that something happens to the first lender you will have a back up. Different lenders may have different investors making loans who will have different requirements and guidelines.
Rosemary Taylor – Zip Realty, Inc.
rosemary.taylor@ziprealty.com
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