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Updated almost 16 years ago,

User Stats

7
Posts
0
Votes
Michael Schutte
  • Rental Property Investor
  • Panama City, Panama
0
Votes |
7
Posts

What loan fees should be negotiated?

Michael Schutte
  • Rental Property Investor
  • Panama City, Panama
Posted

We received a good faith estimate that has:

1% loan origination fee ($1254)

appraisal fee ($350)

credit report ($15)

processing fee (500)

underwriting fee (695)

wire transfer fee (450)

I have heard that all fees are negotiable and in this rough market would think that lenders would be willing to charge a lot less now. I am in Nevada (I don't know if that makes a difference) and was going to negotiate to get rid of the wire transfer fee at a minimum and try and get the underwriting and processing fee amount reduced. Do you think that would be a good idea and do you think it will most likely work? Thanks for any input.