mortgage loan fees

which of the following items can we actually bargain with them not to pay?
This is through a mortgage broker..and the fees seem endless! I realize some are legit..

appraisal fee
credit report
tax related service fee
processing fee
underwriting fee
application fee
closing fee
abstract searches
recording fees
departmentals
express mail


Thanks!

Re: mortgage loan fees

appraisal fee--bargain
credit report--bargain
tax related service fee--bargain(likely it won't get waived though)
processing fee--bargain
underwriting fee-bargain
application fee--bargain this is probably something that can get waived
closing fee--this might be the bank attorneys fee can't be waived
abstract searches--title company charge there is no bargaining with them
recording fees--title company charge there is no bargaining with them
departmentals--title company charge there is no bargaining with them
express mail--can bargain this but unlikely it will be removed.

Many of those fees are standard fees that the bank/broker charges. That being said you can try and get them waived. There is no harm in trying though. Things that you can usually negoiate on is points being charged by a broker and if the broker is also charging their own fees that seem to overlap with the bank. Sometimes a broker will also charge a credit report fee and you are paying it twice--once ot the bank and once ot the broker.

As for the title charges are the title company will charge you those separate and they don't negotiate their prices.
Hope that helped

Re: mortgage loan fees

Posted by csorisi


appraisal fee--bargain
credit report--bargain
tax related service fee--bargain(likely it won't get waived though)
processing fee--bargain
underwriting fee-bargain
application fee--bargain this is probably something that can get waived
closing fee--this might be the bank attorneys fee can't be waived
abstract searches--title company charge there is no bargaining with them
recording fees--title company charge there is no bargaining with them
departmentals--title company charge there is no bargaining with them
express mail--can bargain this but unlikely it will be removed.

Many of those fees are standard fees that the bank/broker charges. That being said you can try and get them waived. There is no harm in trying though. Things that you can usually negoiate on is points being charged by a broker and if the broker is also charging their own fees that seem to overlap with the bank. Sometimes a broker will also charge a credit report fee and you are paying it twice--once ot the bank and once ot the broker.

As for the title charges are the title company will charge you those separate and they don't negotiate their prices.
Hope that helped

Re: mortgage loan fees

I just went through this with a refinance:

appraisal fee - picked my own for $150 less than bank appraiser

credit report-- 9.52

tax related service fee--0

processing fee--500

underwriting fee-840

application fee--0

closing fee for title co--750

abstract searches--300

recording fees--0 for bank $265 for County

express mail--0 (but included in the processing fee since my check will be sent overnight mail)

and you can negotiate the points paid to the broker