Posted on: 22nd Sep, 2010 06:08 pm
i am doing a refinance and got the gfe today.the charges seem very high.he wants to charge $6800.00 for origination fees on a 285000.00 dollar loan.the interest rate is 4.625 for 30 years. i think there was a 1 point buydown on interest. there is also $6500.00 in other settlement fees-- apprasial,title services, escrow account,daily interest etc. i have been quoted 4.625% with no points or 4.375% with 1 point with $990 origination fee at wells fargo.people have told me i should look elsewhere for a loan. any advice greatly appreciated.
thank you
dave
thank you
dave
Welcome davidcur,
If you feel that charges are too high and you won't be able to afford it, then it will be a good option to consider taking out a mortgage with some other lender. You should speak to few other local lenders and check out the origination and other fees, they will charge you. Then you can take a decision in this regard.
If you feel that charges are too high and you won't be able to afford it, then it will be a good option to consider taking out a mortgage with some other lender. You should speak to few other local lenders and check out the origination and other fees, they will charge you. Then you can take a decision in this regard.