These loan numbers look right?

[Curtis H.]

Hey BP fam, 

So I'm under contract on an investment property, and here are the numbers I'm being quoted. Trying to determine if they look right for someone with great credit.

$200K purchase price

20% down

5.75% rate

30 yr fixed

Origination charges - $2295

Title fees including owner's title insurance - $1625

Thanks!

[Chris Mason]

Originally posted by @Curtis H.:

@Stephanie Medellin

It is a SFH.

@Dave Skow

Credit is 785-790. 

@Chris Mason

I actually was going to do 25% down, and at that down payment we are looking at 5.25% rate. I really probably go that route. What seems to jump out a little at me were the fees more than the rate. Not that they are terrible, like mentioned above, but I'm a pretty safe bet as a borrower with the reserves I have, so I want numbers that reflect that. None of it would make me jump ship, I just will negotiate the fees down a little. 

 Here's a quick tip that can prob save you $1500-$2000:

(In SoCal, escrow and title are different. In NorCal and Bay Area, they are amalgamated.)

In reality, the listing agent is probably picking. But she likes her people, so she will find a way to frame it such that the seller agrees to it, since she likes her people.

If they come back and say "great, you pick then!" -- seek out the jenkiest most non-credible title and escrow companies there are. Maybe they use call centers in the developing world instead of locals, mention that (or rather have your agent do so). Listing agent might (correctly) come back with "F that noise, I'll just kick in from my commission..."

It is incredibly rare for a consumer to have an opinion on title/escrow (which has inflated their fees, relative to what they do, for years now), so no one has any scripted go-to counters. 

Good luck. :)