Posted on: 30th Apr, 2009 04:15 pm
Just wanted to get some opinions on my GFE estimate before I sign off on the loan app. Wanted to hear from the board and see if there is anything that I might be overlooking. This is our first loan so I am a little new to this.
Loan Type- HARP 30 Year
Loan Ammount - $220,000
Interest Rate - 4.75%
801 - $0
802 - $0
803 - $350
804 - $28 (two people)
805 - $0
808 - $1100 (0.50%) (PFC - prepaid finance charge)
809 - $0
810 - $395 (PFC)
811 - $795 (PFC) - seems high
812 - $0
YSP - 2% - $4400
1101 - $250 (PFC)
1105 - $50
1108 - $1278
1201 - $150
901 - 15 Days @29.0278/day - $435.42 (PFC)
1001 - 6mths @ $50/mth - $300
1004 - 9 mths a@ $211.46/mth - 1903.14
Estimate Closing Costs - $4034.56
Loan Type- HARP 30 Year
Loan Ammount - $220,000
Interest Rate - 4.75%
801 - $0
802 - $0
803 - $350
804 - $28 (two people)
805 - $0
808 - $1100 (0.50%) (PFC - prepaid finance charge)
809 - $0
810 - $395 (PFC)
811 - $795 (PFC) - seems high
812 - $0
YSP - 2% - $4400
1101 - $250 (PFC)
1105 - $50
1108 - $1278
1201 - $150
901 - 15 Days @29.0278/day - $435.42 (PFC)
1001 - 6mths @ $50/mth - $300
1004 - 9 mths a@ $211.46/mth - 1903.14
Estimate Closing Costs - $4034.56
Maybe a lower rate if 4.75% is yielding 2%(YSP). Ask about 4.5% while it is still available, otherwise fees look pretty standard. I hope this helps...
Thanks for the response. Something that seems odd to me is that the lender is paying a YSP but is also charging a underwriting fee.
