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Are my charges right on my itemization for my mortgage?

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valeskamatsue Joined: 08 Jun 2011 Posts: 1 1.30 Dollars($)	Posted: Wed Jun 08, 2011 9:28 pm    Post subject: Are my charges right on my itemization for my mortgage? Like 0 Dislike 0 I just received an itemization for my closing two of my charges include a funding fee of $495.00 and MIP premium(financed) At $1730.00 by me. Does this sound right? Thanks
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Jun 08, 2011 10:27 pm    Post subject: Like 0 Dislike 0 Hi valeskamatsue! Welcome to forums! You haven't mentioned the loan amount. But it sounds more or less correct. Nevertheless, if you have your doubts, then you should contact your lender and ask him explain the costs in detail. Sussane
jimgilly Community Expert Joined: 28 Jan 2010 Posts: 145 Location: USA 36.21 Dollars($)	Posted: Fri Jun 10, 2011 2:56 am    Post subject: Like 0 Dislike 0 Do you mean you closed on a loan and this is the first time you became aware of these charges? The $1730 looks like is the 1% upfront MIP fee the FHA charges ($173,000 loan?) but I'm not sure exactly what the $495 funding fee is for. If you did in fact close on the loan, you should have seen these fees show up on a GFE that you should have gotten shortly after applying for the loan. At that time you should have questioned anything you weren't certain about. If you didn't get a GFE or these items were not listed than that's another issue altogether.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sat Jun 11, 2011 9:40 am    Post subject: Like 0 Dislike 0 Unfortunately, without knowing the other numbers you were provided, we can't really determine fairness. Seeming right isn't what you're looking for, but it appears that it's the best that can be done for you in this case. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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