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It appears that the main objection is that the fee is disclosed.
The quoted statement makes it sound like if he couldn't 'see' it, it's OK to charge it.
What you don't know, don't hurt you??
Exactly...almost as if the charge had been $1,400.00 rather than $14.00, but it had been rolled into some "documentary fee" rendering it essentially invisible, apparently the OP would have been OK with it.
Anyway, if tiny, inconsequential costs such as the one he's complaining about will send the OP over the edge, then he probably should stick to renting. Given his reaction to a $14.00 credit report fee, nobody will want to be in the same ZIP code with this guy after he receives the first bill for a home service call from a skilled tradesman.
One look at a bill from the plumber will send this guy's brain exploding into orbit.
Probably the best plan, I pay $1200 a month for rent. For the last 4 years. Its time to buy and build equity.
You'll have to pardon my coming on strong in the initial post, Ive only ever dealt with car loans and personal loans. They seem to be a far cry from.... all this.
Ah wait until you start paying for general maintenance on the house. New roof, tree removals. Cracked driveway, replace carpeting, appliances quit working, storm damage, AC goes out....yadda yadda yadda. 😀
Ah wait until you start paying for general maintenance on the house. New roof, tree removals. Cracked driveway, replace carpeting, appliances quit working, storm damage, AC goes out....yadda yadda yadda. 😀
Im looking to buy my first home, I have a 750 credit score (per lenders credit pull).
I have a 2017 $30k car that I pay taxes on yearly, and pay them when they are due. I have done this for all my cars. In fact, I own multiple cars.
So why the HELL are they nickel and diming me to put money into an "escrow" each month as part of the payment? Its unnecessarily inflating the monthly cost, causing DTI issues.
I obviously can pay the $500 annually just like I pay my car taxes when they are due.
Any way to stop them from pulled this childish garbage? Its like you trust me to pay $650 a month but not the $500 annual tax fee?? wtf?
Not to mention they included $14 for a "Credit report" in the loan estimate. Over my dead body im paying that. I will walk away.
Put 20% down, pay the escrow waiver fee and pay them yourselves. It’s not your lenders decision - if it’s an agency loan. As far as 14$ for a credit report, that’s a decent price for a tri merge mortgage credit report - what do you not want to pay for it? Who should pay ?
yes for him it's the principle of the matter and if a car salesmen didn't charge him he thinks a mortgage lender shouldn't either. It's his loss really. He needs to learn to pick his battles.
Im looking to buy my first home, I have a 750 credit score (per lenders credit pull).
I have a 2017 $30k car that I pay taxes on yearly, and pay them when they are due. I have done this for all my cars. In fact, I own multiple cars.
So why the HELL are they nickel and diming me to put money into an "escrow" each month as part of the payment? Its unnecessarily inflating the monthly cost, causing DTI issues.
I obviously can pay the $500 annually just like I pay my car taxes when they are due.
Any way to stop them from pulled this childish garbage? Its like you trust me to pay $650 a month but not the $500 annual tax fee?? wtf?
Not to mention they included $14 for a "Credit report" in the loan estimate. Over my dead body im paying that. I will walk away.
Doesn't sound like you are ready to buy your first home if you are coming on here and asking the above questions.
Your mortgage lender or your realtor probably offers a seminar to first time home buyers which I would encourage you to take.
Escrow is normal. Being charged for fees for pulling reports, etc. is normal and customary. If you are worried about $14 or being "nickel and dimed" during the process, there is NO WAY you are ready to buy your first house! Home ownership is not like renting. There is always something coming up unexpected that will require maintenance, which = spending money on your house.
Thats fair, but Id like to have the option to pay my own taxes like ive always done. I suppose enough idiots have screwed them in the past that they now require this for most people now.
You'll probably have PMI as well since you're not putting 20% down!
The only time you have that option is if you can put 20% down. If you can't than you do not have the luxury to say otherwise. The bank gets to call the shots because THEY are lending you money to buy a home. PERIOD! And the credit report will not be the only fee's you'll see when this is all done. Wait till closing!!
Why do you own "multiple cars?" One vehicle is enough. If you sold the rest off, you'd have more money for your house down payment.
He's a big baller, but you won't dare nickle and dime him out of $14 or an escrow account.
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