My GF and I have gotten a commitment letter on a 30 yr FHA fixed rate loan for 400K.
I reckon the fees/points seem high.
Commitment Fee – 1.0 point = $3,949.00
Discount Points – 1.5 points = $6,041.97
Underwriting Fee = $575.00
We both have low fica scores. 590-630
This is not a solicitation for anyone to get us a mortgage, all we are looking for is mortgage professional to give us an opinion on the fees.
Thanks
Tags: commitment fee, commitment letter, FHA Mortgage, fixed rate loan, gf, mortgage, mortgage professional, normal, solicitation, terms, THESE, underwriting fee, yr fha
HUD-1 Statement ? This is a document provided by your lender/broker that includes a detailed listing of the moneys needed at closing, including points, escrow, commissions, and other fees. Impound / Reserves ? The amount of the ... Rate Lock ? Commitment given by a lending institution to a buyer that guarantees a certain interest rate is valid for closing for a specified period of time. Real Estate Agent ? A person that is licensed to negotiate the sale of property. ...