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Opinion on Good Faith Estimate of Settlement Costs

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diadjika Joined: 12 Oct 2009 Posts: 1 1.51 Dollars($)	Posted: Mon Oct 12, 2009 11:43 am    Post subject: Opinion on Good Faith Estimate of Settlement Costs Like 0 Dislike 0 I was Preapproved for an FHA Loan ... Can you guys give me your opinions if it is high or not My mortage will be 2156 including 600 condos fees : Sales/Purchase Price 230,000.00 Interest rate 5.250 Mortgage amount 225,834.00 Loan Type FHA 30 YR FIXED P & I or Int Only Payment $1,247.06 Taxes :$208.33 MIP $101.08 HOA $600 Est. Total Mo. Pymt $2,156.47 Est. Closing Costs 803 APPRAISAL FEE 445.00 804 CREDIT REPORT 27.00 808-817 UNDERWRITING FEE 395.00 808-817 PROCESSING FEE 195.00 808-817 FLOOD LIFE OF LOAN FEE 19.00 808-817 FHA UPFRONT MIP 3,884.00 808-817 APPLICATION FEE 0.00 0 1102 ABSTRACT OR TITLE SEARCH 150.00 1104 TITLE INSURANCE BINDER 50.00 1107 ATTORNEYS FEE 550.00 1108 TITLE INSURANCE 1,012.00 1201 RECORDING FEE - DEED 80.00 1202 CITY/CNTY TAX /STAMP-DEED 1,150.00 1204-1205 RECORDATION TAX 793.50 1301 SURVEY/PLAT/IMPRVMNT CERT 250.00 Est. Prepaid Expenses Interest - estimated days @ /day 487.20 1004. County property taxes: months 2,291.63 1006. months 1007. months 1008. months 1009. Aggregate Accounting Adjustment (208.29) Total estimate prepaid expenses 2,570.67 Estimated total settlement costs to be paid at closing 11,571.17 Estimated closing costs to be financed 3,884.00 Purchase: Down Payment Amount 8,050.00 ESTIMATED CASH REQUIRED TO BRING TO CLOSING (IN FORM OF CASHIER'S CHECK) 15,737.17
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Mon Oct 12, 2009 1:46 pm    Post subject: Like 0 Dislike 0 reasonably typical, yes - is this a prospect mortgage deal? the fees look familiar. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
diadjika2 Guest	Posted: Mon Oct 12, 2009 1:53 pm    Post subject: Like 0 Dislike 0 No prosperity mortgage. So the fees are industry average ? Is the rate good enough (5.25) for FHA
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Mon Oct 12, 2009 9:08 pm    Post subject: Like 0 Dislike 0 actually you might do better, but i haven't seen interest rates since wednesday, so don't take what i said as gospel. you need another opinion or two before you leap, i think. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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