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Hello All,
This is my first post. Thanks in advance for the help.
My wife and I just bought a house for full appraised value - $128,000 with the 2% funding fee rolled in at 4.875% 30yr fixed. Which made the total loan amount $130,560.
Our total closing costs were $2904.45
However, on our closing costs the loan says "USDA Fee - 4569.50"
Can anyone tell me how they're getting the $4569.50? Shouldn't it be the 2% making it $2560?
My lender wasn't present at closing and didn't answer his phone. Just curious. Please see attached picture of closing doc.
The keller williams transaction fee is a garbage fee. I would tell them to remove the fee. The broker is already making huge commission as is the real estate agent.
Everything else looks normal, im not familiar with USDA fees.
My wife and I just bought a house for full appraised value - $128,000 with the 2% funding fee rolled in at 4.875% 30yr fixed. Which made the total loan amount $130,560.
Our total closing costs were $2904.45
Quite frankly, that's a screaming deal compared to what I was just quoted:
Your loan officer made a mistake. The USDA Guarantee fee is 3.5% +/- and has been since last year so no, you didn't get charged too much.
Congrats on your new home!
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