Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 16 years ago on . Most recent reply

User Stats

9
Posts
0
Votes
Matt Thompson
  • Contractor
  • Castle Rock, CO
0
Votes |
9
Posts

Junk Fees on my Refi question

Matt Thompson
  • Contractor
  • Castle Rock, CO
Posted

I am doing a refi on my house, and just recieved my paperwork from the new bank in the mail. I got a 4.75% 30 yr fixed on my house. I owe $352,000. I am going through the new GFE, and there are a few new fees that popped up that I am questioning... not being a finance guy, I don't know the specific ins and outs of exactly how negotiable these fees are, but from what I've read, there may be some "pork" here. I am doing this loan with a broker/RE agent I am considering doing more deals with in the future, and I want to make sure he is looking out for me. If not, I'll cast my line somewhere else, as I have excellent credit and low debt. Here's the lowdown.
GFE
Origination Fee 3,650
discount 602.65
appraisal 350
processing fee 450
tax service 83
underwriting fee 650
LOL Flood cert 6
administrative fee 675
per diem interest 1282.5
hazard ins 600
county prop taxes 2558.1
settlement/closing 200
title insurance 1,300
misc title fee 150
endorsements 250
recording fees/deed 125

total 12,931.85

I am suspicious of processing fee, administrative fee, misc title fee, settlement/closing, and endorsements... am curious to see what some of you who are versed in mortgages think. I would rather hammer them now then at the closing, and frankly, the $ looks better in my pocket then anyone else's. Thanks in advance.
Matt

Loading replies...