Posted on: 10th Aug, 2011 10:03 pm
Can someone please tell me if I am getting a fair GFE.
Loan Amount 182,800
Interest Rate: 4.375%
Term: 360 months
801 Loan Orig. Fee 2828
803 Appraisal Fee 360
804 Credit Report 80
809 Tax Related fee 72
810 Processing fee 450
811 Underwriting Fee 755
812 Wire Transfer Fee 4
Compensation to Broker 2635.98
(1.442%)
1101 Closing/Escrow Fee 390
1106 Title Insurance 1000
1201 Recording Fees 160
1202 City Country Tax 23
1300
Total from GFE 2010 1225
Estimated Closing Cost 7347
901 Interest @23.4847/days
903 Hazard Insur 600
1001 Harad Ins. Premu 150 (3 mths @ 50)
1004 Taxes Ass. Reserves 540 (3mths @180)
Estimated Prepaid Items 1290
Total Estim ated
Settlement charges 8637
Purchase Price 228575
CC Paid by seller 5000
Cash deposit on sales credit 1000
Seller credit 1000
Lender Credit 2636.64
Total Estmated
funds needed to close 44775.16
Loan Amount 182,800
Interest Rate: 4.375%
Term: 360 months
801 Loan Orig. Fee 2828
803 Appraisal Fee 360
804 Credit Report 80
809 Tax Related fee 72
810 Processing fee 450
811 Underwriting Fee 755
812 Wire Transfer Fee 4
Compensation to Broker 2635.98
(1.442%)
1101 Closing/Escrow Fee 390
1106 Title Insurance 1000
1201 Recording Fees 160
1202 City Country Tax 23
1300
Total from GFE 2010 1225
Estimated Closing Cost 7347
901 Interest @23.4847/days
903 Hazard Insur 600
1001 Harad Ins. Premu 150 (3 mths @ 50)
1004 Taxes Ass. Reserves 540 (3mths @180)
Estimated Prepaid Items 1290
Total Estim ated
Settlement charges 8637
Purchase Price 228575
CC Paid by seller 5000
Cash deposit on sales credit 1000
Seller credit 1000
Lender Credit 2636.64
Total Estmated
funds needed to close 44775.16
I feel that the rates and charges quoted to you are quite good. But if you've doubts, then you can show it to some other broker and take his/her opinion.
You've got good rates yet there are some factors that can affect on getting a fair GFE. You might want to discuss it to an expert and be guided accordingly on your plans.
