2 Thoughts on How are these mortgage fees calculated?
  1. Reply
    February 3, 2014 at 8:37 am

    Most of those rates fall within a range of usual and customary rates in the industry.
    Each point is equal to 1% of the loan amount.

  2. Reply
    February 3, 2014 at 8:59 am

    Most of the fees are determined by the lender. I don’t know what a mortgage fee summary is, unless it just means it the total of all the fees. The origination fee, the processing fee and the underwriting fee are all paying the lender to do his job. The fee for the appraisal goes to the appraiser and with a big company like mine, it’s a negotiated amount. Smaller companies who don’t do bazillions of loans every year may pay a different fee for every loan. The credit report is a negotiated fee between the lender and the bureaus. There are also fees for the title company and the flood certificate.

    Points, however are a different story. Points are pre-paid interest used to lower the interest rate. Each point is 1% of the loan amount.

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