Are these fees to high.

[FloridaRob]

What is the name of your state?Fl

I am to close on a house sometime in teh next week. My ex son in law is doing the mortgage for me, He is a mortgage broker. I can only close with one or two lenders so I know I am limited to that only.

Credit score is 660.full doc loan...$248,000 sale price. 95% LTV. interest rate quoted is 7.5% 30 yr fixed....

NOw for the fees. 1% origination, 2% brokers fee plus $1150 Lenders fees, and the good faith has another $2350 YTS premium that I think is money being paid on the back end. Not sure of that tho. So $10,000 to $11000 fees before title insurance, doc stamps, prepaids etc.

Is the son in law taking advantage of me being a good guy.

 

[GradX]

Sounds like you're being shafted to me. My credit score is 550 and I was approved for a $100k loan with no money down and closing costs around $4k at 7.5%. I make 85k/yr so that helped out a lot.

 

[MortgageGuru]

You Are Getting Screwed!!!

I am a Loan Officer. 660 FICO, Full Doc, 95% LTV, 5.75% 30 Year Fixed, Zero Discount, Zero Origination, $736 Total Lender Fees. Call me at (800) 618-8362 Ext. 181 or e-mail me. I can get it closed on time for you.

 

[jkaczmarek1898]

loan fees - Your ex-son-in-law is making you pay for his divorce!

It appears that what your son in law is charging you in fees could pay the attorney fees for the divorce from your daughter! Get a good faith and a truth-in-lending statement from anyone is volunteering to help you!