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Old 02-05-2009, 08:55 AM
 
1 posts, read 1,523 times
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Currently have a mortgage with HSBC, adjustable rate (4.5%), working on getting a 15 year fixed at 4.875. Total loan amount will be 180,000 and loan-to-value will be less than 80%.

Loan Origination Fee: $275
Commitment Fee: $300
Application Fee: $325
Settlement Fees: $350
Title Examination/Endorsements: $129
Title Insurance: $540
Tax Service Fee: $79
Recording Fees: $50
State Tax/Doc Stamps Note: $595

Guess I'm wondering about the Commitment and Settlement Fees. The others I guess I can make sense of and live with, but those two look like padding. Is it possible to negotiate those away by simply asking?

Also...our current mortage plus 2nd mortgage = $160,000. We want to take the $17k+/- we would get back from this and pay-off all credit card debt. Will a mortgage company typically allow this...giving us back $17K?

Thanks in advance...I'm not at all savvy in this area.
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Old 02-05-2009, 09:15 AM
 
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Be careful... some people on this forum think if they charge a million dollars in fees, its okay... they don't believe in "junk" fees...
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