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Updated over 1 year ago,

User Stats

19
Posts
14
Votes
Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
14
Votes |
19
Posts

Is my loan origination charges high or normal for this current market?

Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
Posted

$269,800 loan. Loan origination charges are $4,670 (origination fee) and $1055 (underwriting fee). My loan is a 5% down owner occupied conventional loan at 7.5% interest. At first glance, this seemed high to me but I'm not sure if it's because of the current mortgage market / industry as a whole. I'm already under contract with a less than 30 day closing timeline so time isn't quite on my side.

I pulled up my closing costs from my last home purchase in Nov of 2021 and it was $1200 for a 3% down conventional owner occupied loan at 3.25% interest. Again, not sure if the market has shifted.

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