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leighann · Joined: 08 Oct 2009 Posts: 1 1.29 Dollars($)

If a mortgage has a rate of 4.94 with no disc/orig. points, but has $1,200 in fees in APR, what is that for if it states no points?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats probably it is the processing fee

The person who is working on the loan needs to get paid

jenkin7 · Posted: Fri Oct 09, 2009 12:52 am Post subject:

Hi leighann,

The lender may claim that they are not charging any points upfront for the loan. But they do charge a lot of other fees like settlement or closing fees, title search fees, title insurance costs, recording fees, state taxes etc. It looks like the $1200 fees that your lender is charging include all or some of these fees.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Jenkins is correct.

But leighann you shoudl ask for details of these fee and lender needs to give you an break up of these fees

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