Posted on: 09th Mar, 2009 09:03 am
We're buying a new construction home ($340k - financing about 250k) and part of deal was we had to go through builder's loan officer. I just want to know where I can trim a few bucks. I feel comfortable with the origination, appraisal, credit, tax service, underwriting and flood fees. But...not sure about these:
Committment Fee - $356
Processing - $367 (seems high to me; isn't this part of origination fee?)
Settle/Close Fee $100
Title Insurance - $1950
Endorsement - $150
Recording - Mtg - $130
State Transfer $3,242
Thanks for your help.
Committment Fee - $356
Processing - $367 (seems high to me; isn't this part of origination fee?)
Settle/Close Fee $100
Title Insurance - $1950
Endorsement - $150
Recording - Mtg - $130
State Transfer $3,242
Thanks for your help.
it doesn't look to me like your being charged excessively. you can negotiate the first two on many occasions, but the remainder are pretty much third party fees that you'll not be able to negotiate.
Not much you can do on those. Looks like the builder is giving you a great deal... not seeing the origination fee on there.
But, processing fees and origination fees are two seperate items and $367 is very reasonable for a good processor.
Best of luck!
But, processing fees and origination fees are two seperate items and $367 is very reasonable for a good processor.
Best of luck!
