Posted on: 12th Sep, 2006 09:36 am
I just received my Good Faith Estimate and it shows charges I was not expecting, it was an underwriting fee $695 and processing fee of $495, this is on top of the origination fee, are these fees routine or is our lender trying to stiff us?
The underwriting and processing fees you have mentioned do seem to be bit higher than normal amounts taken as closing costs.
Hi,
If you think the lender is charging you more, you can surely question him. As a borrower, you have the right to know on which service the lender is charging you.
Thanks,
Sara.
If you think the lender is charging you more, you can surely question him. As a borrower, you have the right to know on which service the lender is charging you.
Thanks,
Sara.
Hi Debbie,
Under the Truth in Lending Act, lenders must disclose the costs related to the loan before providing the loan amount. So, you have the right to know about the fees and ask questions to your lender in case you have any doubt on this issue. But it is a fact that the loan costs vary from one state to another and even from one lender to another.
If you prefer to know about the closing cost in your state, you may find it from our statewise listing of the loan cost.
God bless you
Samantha
Under the Truth in Lending Act, lenders must disclose the costs related to the loan before providing the loan amount. So, you have the right to know about the fees and ask questions to your lender in case you have any doubt on this issue. But it is a fact that the loan costs vary from one state to another and even from one lender to another.
If you prefer to know about the closing cost in your state, you may find it from our statewise listing of the loan cost.
God bless you
Samantha
