Mortgage Brokers and Fees

We are using a mortgage broker paid by the lender. We got our good faith estimate and I noticed that there is a credit report fee ($30), underwriting review fee ($525), appraisal fee ($300), application fee ($250) and processing fee ($295) to be paid by us.

Are these normal fees or am I getting screwed??

Thanks

Re: Mortgage Brokers and Fees

the fees are normal but the dollar amount can vary. i don't think we paid for the credit report and i think the underwriting fee was a good deal less than your quoted $525.

Re: Mortgage Brokers and Fees

both last time buying and this time, our broker didn't charge us for the credit reports or the underwriting review. The appraisal is right on target with what we've paid and the application and processing fees are right, give or take $50 as compared to us.

I think the fees vary based on the price, but ours didn't vary between the two homes (3 years apart), except the processing fee which was much higher the first time around (when the home was less $$). I don't get that but I'm not complaining about less $.

Re: Mortgage Brokers and Fees

I didn't recall having to pay any of those fees other than the appraisal so I looked up what we did pay.

There were no fees for the application, credit report, underwriting or processing. We didn't pay ANY fees to e-Loan at all.

Mortgage brokers are awful with their fees. Are you too far along to switch lenders?

Message edited 5/30/2005 5:52:54 PM.

Re: Mortgage Brokers and Fees

our attorney calls them "junk fees" send them along to your attorney first to check them out...

Re: Mortgage Brokers and Fees

Thanks girls! I am going to talk to my attorney and then talk to the broker.

Lisa, I didn't sign anything yet, just faxed her all our info. All these charges were on the GFE she sent.
I'm ****** b/c it says they are receiving $13,000 from the lender, why be greedy and charge me this junk?

And I thought we clicked b/c she is doing IVF too...