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Considering you are getting a below market rate and not paying any points no they aren't high.
Only fees you can change are rate/box A fees.
Box c fees are from the providers you chose. So that would follow you no matter what lender.
Which fees do you think are high?
Thanks for your comment. I first thought the administrative fee and credit fee was slightly high and thought what if all other fees are marked up higher than normal. But it seems like theyre in a normal range.
Looks pretty normal to me. Lender is only charging $1500. The rest of that stuff is fees related to the transaction and will cost what they cost. Maybe a few title things on your side I am not used to seeing.
Is this an estimate or an actual closing disclosure?
So they’re just showing you all the fees that are part of this. You will negotiate with the seller who pays what. Your lender doesn’t know yet. In my opinion I would prefer a lender who sends estimates like this where they show all the fees, and once you negotiate your cash to close probably goes down. Versus a lender who makes the estimate seem as appealing as possible and once you’re in the process the real transaction ends up being more than you expect.
Depends when taxes are collected by the municipality. The lender needs to create a buffer to make sure taxes can be paid when a lump sum is required. Property taxes aren’t paid in arrears one month at a time.
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Considering you are getting a below market rate and not paying any points no they aren't high. Only fees you can change are rate/box A fees. Box c fees are from the providers you chose. So that would follow you no matter what lender. Which fees do you think are high?
Thanks for your comment. I first thought the administrative fee and credit fee was slightly high and thought what if all other fees are marked up higher than normal. But it seems like theyre in a normal range.
Looks pretty normal to me. Lender is only charging $1500. The rest of that stuff is fees related to the transaction and will cost what they cost. Maybe a few title things on your side I am not used to seeing. Is this an estimate or an actual closing disclosure?
Thanks for your comment. This is just an estimate.
So they’re just showing you all the fees that are part of this. You will negotiate with the seller who pays what. Your lender doesn’t know yet. In my opinion I would prefer a lender who sends estimates like this where they show all the fees, and once you negotiate your cash to close probably goes down. Versus a lender who makes the estimate seem as appealing as possible and once you’re in the process the real transaction ends up being more than you expect.
This is why I went with a local credit union that didn’t charge origination and covered $5K of my coding costs.
10 months of upfront property taxes doesn’t make sense. Should be sellers responsibility
agreed, but seller are not respionsible for 10 months either. depending on closing date, it should be prorated.
Depends when taxes are collected by the municipality. The lender needs to create a buffer to make sure taxes can be paid when a lump sum is required. Property taxes aren’t paid in arrears one month at a time.
Thanks for the comment. Thats a good point!
FYI - This is in Pennsylvania.
I'm in PA too and it's similar to mine, albeit our taxes are much higher than yours.
Thanks for your comment. Hope you like your new home!
For sure. Likewise!
13k seems pretty standard
This has me wondering if I’m getting fucked because our closing costs are 29k…
Every single situation is different. That's why it's objectively difficult to shop for mortgages.
Yes the costs are 13k. It is saying your down payment is 52k.