FHA is 1.5% for the funding fee but it is FHA's fee...not the lenders.
VA loans have funding fees from 2.15-3.3% but it is the VA fee..not lenders.
If this is a regular conventional loan...then you need to ask them why they're charging so much?
Will there be PMI on this loan? If yes, then what is the monthly PMI payment?
Quote:
Originally Posted by islaw
We are to close in 3 days and being slapped with a 1% funding fee on a 30Y, 6.25%, 280k loan (net of 3% down). This is on top of the 1% origination fee and AFTER we've been previously assured that we won't have to pay the funding fee since we're putting down the 3% downpayment. It is not a VA loan but a conventional loan. Can the lender do this?
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funding fee AND origination fee
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