Mortgage Appraisal Fees
My mortgage broker wants to charge these fees, reasonable? San diego, California?
I live in San diego and have pre approved by Wells Fargo. However, since the occupancy percentage on the property is low, I have to ask some help from a mortgage broker.
He got me a loan, but I think the fees is a bit high.
$400 Appraisal fee,
$ 15.75 Credit Report
$595 Processing fee
$975 underwriting fee.
$500 Escrow fee.
$125 Notary Fee
$1100 Title Insurance
$3,540 YSP paid to broker 2%
estimated closing cost of $ 5,161.75
All these fees based n Loan amount of $ 225,000 (21% down) and interest rate at 4.8% and 15-year fixed.
Are the above fees little bit too much or reasonable?
Give me your advice and suggestion.
Is it gonna be same or better contact other banks as most of the won’t approve low occupancy condos ?
Will the fee equally the same ?
Real estate agent recomended me this mortgage broker.
Thanks
just make a phone call to the bank and ask. it took me one phone call, and they told me the fees up front. it is much lower. y are u paying a broker? the seller should pay the broker.
How to Obtain a Mortgage : Appraisal for Mortgage Appication
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The above mentioned are the basic requirements in order to qualify for a home loan. Secondly, I was interested to know how big a home loan I could get considering Mortgage Appraisal Fees. As soon as I knew how much, I could start searching for a house.
Mortgage Appraisal Fees
Do I have to pay an appraisal fee of Mortagae Co., even if you do not buy the house?
I would buy this house and left a deposit check $ 1,000 to my real estate agent. Open escrow and had the house to inspect pests. The report came back and I was not happy with the damages and not I wanted to run the risk that the house, so he withdrew from the purchase within 10 days of opening escrow. I paid for pest inspection and my agent said $ 99.00 deducted from my check for $ 1,000. During this time, the mortgage company had sent me a Good Faith Estimate that requires my signature. But I never signed any of them because I have my mortgage co papers after my pest inspection. My agent told me that if I make a copy of the offer in my due diligence, would only to pay for the inspection. Now the mortgage co sent me a bill for $ 418.00 stating that I have to pay an appraisal fee and a fee of my report credit. They said it would deduct from my deposit check of $ 1.000. Is this correct?
If you signed the loan application (Form 1003), other (with some exceptions, for example, if the evaluator is an employee in the house drawing a salary, rather than an independent contractor) requested a loan. The assessment needs to be done. The sooner you do, the better you are. Your agent should have explained this to you. Your loan officer should have also explained this to you.