How Do These Fees Look To You Guys - Refi

Comments(7)

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  compwhiz24th October, 2003

  Looks pretty bad to me if you're actually paying that out of pocket upfront. A good mortgage broker should be able to get you a mortgage that will cover all closing costs. Unless you plan to spend 7+ years in the house, paying closing costs upfront makes zero sense.

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  Results24th October, 2003

  if these fees were wrapped into the mortgage then it would be reasonable?

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  jfoley24th October, 2003

  Are these fees out of pocket? Paid at closing by you? If so, you should be looking for another broker. All fees for a refi should be included in your new loan amount. Of course this eats up equity but it is the best way to go. Also, brokers may give you a higher rate to compensate for lower fees to make make more money on the back end. Something to think about.

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  Results24th October, 2003

  I understand, so if they were built in and (paid for by me..eventually)- all things being equal (terms) is this reasonable. If they are not paid out of pocket.[ Edited by Results on Date 10/24/2003 ]

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  jfoley25th October, 2003

  Yes, just be cautious of the rate given you.

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  Results17th December, 2003

  Ok Gents, the rate I have is 6.125 30 yr fixed - the title and appraisal it looks like he wants me to pay out of pocket at this point - $250 to $300 ish for the Appraisal and $800-$815 for the title.
  
  My refi guy is in maine (Im in So Cali) and I called up a broker friend of mine to refer me to a local appraisal and title co.
  
  Should I be looking to get these two rolled in and is that title fee high? Its higher than he originally quoted me.
  
  Help appreciated, thanks![ Edited by Results on Date 12/17/2003 ]

• 
  mort4you17th December, 2003

  Without knowing all the details of your loan...I am thinking that I maybe able to beat those fees...
  
  We are a direct lender, so all that middle man stuff is eliminated.
  
  I will email you privately