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I am a first time buyer and I received some quotes. One of the quotes I received did not have origination fees or processing fees. The quote also did not have any points. Is this real or am I going to find out at a later time about origination and processing fees? Also, can you negotiate to lower or eliminate this fees? What other fees can be negotiated?

2 Thoughts on Can there be a mortgage loan without origination and processing fees?
  1. Reply
    Paul in San Francisco
    January 31, 2014 at 8:42 pm

    A mortgage is a product just like any other product and the price and terms and fees are ALL negotiable. That doesn’t mean that a lender will willingly waive all fees/points, etc. — it means that they can do so if they want but usually they are only generous with their “high net worth” clients. “Normal” customers aren’t that lucky. That’s one way the rich stay rich. But again, a mortgage is a product of a lending institution so you should shop around because fees/points, etc. can vary VASTLY from lender to lender. Hope this helps! Good luck.

  2. Reply
    January 31, 2014 at 9:04 pm

    It is possible to have a loan without origination fees. Ask for a Good Faith Estimate from each lender and compare that. It should be fairly close to what the actual amount comes out to be.

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