Posted on: 01st Feb, 2010 11:36 pm
Who is charge less fee?
GFE from broker #1 charge fee:
801 Origination fee 3%
808 mortgage broker fee (not mentioned)
YSP 3%
GFE from broker #2 charge fee:
801 Origination fee 0%
808 mortgage broker fee 3%
YSP 3%
GFE from broker #1 charge fee:
801 Origination fee 3%
808 mortgage broker fee (not mentioned)
YSP 3%
GFE from broker #2 charge fee:
801 Origination fee 0%
808 mortgage broker fee 3%
YSP 3%
Ouch. What rates are they offering? They are both charging the same amount, just under different labels.
6 points? i don't know if "ouch" actually covers it.
6% only makes sense if the mortgage is a small amount - how much are you attempting to finance?
That is too much! Try finding a Direct Lender who has less fees. 6% is a lot even if you are less than perfect in the three areas lenders use to qualify- I.C.E- Income, Credit, Equity (or down payment).
What state are you in?
What state are you in?
but raymond, on a small loan, 6 points being charged has got to put it into high-cost range, don't you think? the only explanation is nastier than nasty credit - else it's just someone trying to make a fortune off somebody else's back.