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Disclaimer: I am oblivious to GFE and estimation charges for mortgage loans.
I just received a GFE sheet from my lender and I was appalled to see that the lender's title insurance would cost $14,150.00 I'm thinking this has to be a typo and they probably meant to charge 1,415.00 for the title insurance.
So far, here's brief summary of the charges for $200,000.00 loan:
Origination charges: 4,245.00
Appraisal, tax service, credit report, flood cert fees: 600.00
Lender's title insurance: 14,150.00 (this has to be a typo error)
Government recording charges: 120.00
Daily interest charges: 833.33
Homeowner's insurance (Hazard insurance premium): 300.00
Total estimated settlement charges: $20,248.33
Assuming that it is a typo, the correct estimated settlement charges would be $7,513.33. Does this sound right?
And somebody please tell me this has got to be a typo error on the lender's part. My mortgage agent is out of office until Monday so this is going to be a long weekend.
DVDFreaker, you may want to review your Final HUD-1 settlement to see how much you were actually charged (GFE just shows an estimate, Final HUD-1 shows the actual charges). Also helps to know what your loan amount and state you were purchasing in, as title insurance costs vary based on those two variables.
Even $1415 would be quite a high in my experience. You can search your own title insurance.
We use one online company and save about 50% off of lender GFE on title insurance and settlement charges. You can PM me if you want to know the company name or URL.
Hint: "Direct" to the source, you will get the same result with lower costs.
Disclaimer: I am oblivious to GFE and estimation charges for mortgage loans.
I just received a GFE sheet from my lender and I was appalled to see that the lender's title insurance would cost $14,150.00 I'm thinking this has to be a typo and they probably meant to charge 1,415.00 for the title insurance.
So far, here's brief summary of the charges for $200,000.00 loan:
Origination charges: 4,245.00
Appraisal, tax service, credit report, flood cert fees: 600.00
Lender's title insurance: 14,150.00 (this has to be a typo error)
Government recording charges: 120.00
Daily interest charges: 833.33
Homeowner's insurance (Hazard insurance premium): 300.00
Total estimated settlement charges: $20,248.33
Assuming that it is a typo, the correct estimated settlement charges would be $7,513.33. Does this sound right?
And somebody please tell me this has got to be a typo error on the lender's part. My mortgage agent is out of office until Monday so this is going to be a long weekend.
Disclaimer: I am oblivious to GFE and estimation charges for mortgage loans.
I just received a GFE sheet from my lender and I was appalled to see that the lender's title insurance would cost $14,150.00 I'm thinking this has to be a typo and they probably meant to charge 1,415.00 for the title insurance.
So far, here's brief summary of the charges for $200,000.00 loan:
Origination charges: 4,245.00
Appraisal, tax service, credit report, flood cert fees: 600.00
Lender's title insurance: 14,150.00 (this has to be a typo error)
Government recording charges: 120.00
Daily interest charges: 833.33
Homeowner's insurance (Hazard insurance premium): 300.00
Total estimated settlement charges: $20,248.33
Assuming that it is a typo, the correct estimated settlement charges would be $7,513.33. Does this sound right?
And somebody please tell me this has got to be a typo error on the lender's part. My mortgage agent is out of office until Monday so this is going to be a long weekend.
In Florida, that would cost you about $1075 so I'm sure it's a typo.
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I'm thinking this has to be a typo and they probably meant to charge 1,415.00 for the title insurance. 
Lenders title insurance
