Good Faith Estimate (property tax, fees, loan, property) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

stanggirly50 · 02-03-2009, 09:04 PM

I live in NJ and just received my good faith estimate on my first home purchase. Under item #1003 they are charging me $500 a month which would be for school taxes and item #1004 they are charging me $487 a month for property taxes. In NJ shouldn't all the taxes only be on item #1004 for property taxes. NJ doesn't pay school tax separately right? They are charging me a $1000 a month on taxes..this is unreal. The property taxes on the house are about $4,100.00 when i called the township and gave them the lot information. Can anyone help me and verify that NJ does not charge school tax separately?

Also, i have the GFE through Countrywide thinking of finding another lender, anyone have recommendations for a FHA loan?

Thanks!

renriq02 · 02-04-2009, 08:37 PM

i know a few brokers in NJ

it's always good to speak to someone local especially when it comes to taxes

either way no lender will charge you a wrong amount for taxes

those fees 'are what they are'

Quote:

Originally Posted by stanggirly50

I live in NJ and just received my good faith estimate on my first home purchase. Under item #1003 they are charging me $500 a month which would be for school taxes and item #1004 they are charging me $487 a month for property taxes. In NJ shouldn't all the taxes only be on item #1004 for property taxes. NJ doesn't pay school tax separately right? They are charging me a $1000 a month on taxes..this is unreal. The property taxes on the house are about $4,100.00 when i called the township and gave them the lot information. Can anyone help me and verify that NJ does not charge school tax separately?

Also, i have the GFE through Countrywide thinking of finding another lender, anyone have recommendations for a FHA loan?

Thanks!

mparikh05 · 05-27-2009, 12:10 PM

Yes, in NJ there's NO SEPARATE school tax. its bundled into your property taxes. I have my HUD 1 as proof!

TimidGuy · 05-27-2009, 01:58 PM

How much did your attorney charge? Is it on the HUD?

AndrewSoss · 05-30-2009, 10:57 AM

those numbers aren't controlled by the person who prepared the GFE.

that being said, someone who is not careful enough to get as accurate a number as they can for every line of the GFE (whether they control it or not) can be a red flag for how they might perform in the future.

suzie02 · 05-30-2009, 11:29 AM

Did you ask them? Maybe it was a typo for something else.
Also you can get GFE from multiple lenders and compare them.