I am using the builder’s mortgage company, so i can get some incentives, but i am not sure is this costs are reasonable? the house is 380,000. 0% down. i have good credit 798.748,702. i am getting a rate of 6.59 30 year fixed interest only(10 years) and second mortgage 8.75% with a ballon payment.
Loan Origination Fee: (1%) $ 3051.90
Appraisal Fee: $ 400.00
Credit Report Fee: $ 36.00
Underwriting fee 600.00
Broker Processing Fee: $ 475.00
Tax Related Service Fee: $ 78.00
Lender Document Preparation Fee $ 175.00
Courier Fee: $ 20
Flood Certif: $ 15.00
Other Financial closing costs $ 1,200.00
plus 3,247 reserves deposited with lender.
Closing/Escrow Fee: $ 150.00
Doc Prep Fee: $ 70.00
Title Insurance: $ 1474.00
Endorsements Est.: $ 100.00
Recording Fee: 95.00
Estimated Closing Cost: $ 8,325.00
Is this right? It sure seems a little high! The loan amount is 470k. Thanks!