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Old 09-14-2012, 09:21 PM
 
2 posts, read 4,151 times
Reputation: 10

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these were the estimates:
origination charge- ~$3000
appraisal fee- $585
credit report fee- $14
flood certificate- $9
tax certificate- $60
title's services and lender's title insurance- $1200
owner's title insurance- $800 (we don't really have to pay this, hopefully?)
government recording charges- $180
initial deposit for escrow (all property taxes, all insurance)- $1600 (can someone explain what this is??)
daily interest charges ($16.40 /day for 30 days)- $492 (not really sure what this is either)
homeowner's insurance- $720

total: ~$9000
Loan amount is around $180000

Should I continue shopping around or can I negotiate these rates?
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Old 09-17-2012, 08:49 AM
 
173 posts, read 541,842 times
Reputation: 104
Your realtor, lender, or closing agent can/must give you the EXACT details on how these get calculated. This is all from the HUD 1 form. I will have to look at my HUD 1 as I just closed but these all seem about within reason. The only things you can really shop around on here are your title insurance, the homeowners insurance, and the overall rate and points (which drive the origination charge).
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Old 09-17-2012, 09:28 AM
 
118 posts, read 295,107 times
Reputation: 102
I always insist on my mortgages not having escrow, but most lenders charge a fee for that. Such a scam. Anyways, it looks reasonable to me.
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