Hidden Fees on a mortgage

[Burnetaggie99]

Anybody work doing this. I'm buying a new house and looks like I found a few hidden fees on the good faith estimate. To make things worce the guy is a Aggie Grad.:headslap:

[macduff93]

Anybody work doing this. I'm buying a new house and looks like I found a few hidden fees on the good faith estimate. To make things worce the guy is a Aggie Grad.:headslap:


If they're on the GFE, they're not so hidden. ;)

If he's a mortgage broker or banker then he will likely have an origination fee (1% or less) and maybe a processing fee(coupla hundred bucks at most), but much above or in addition to those charges are likely padding.

Ask him what they are and just whom is benefiting from them. If you're not happy with his answers or feel uneasy about what you've been told and what the numbers actually reflect, get some more quotes.

Having info and verified GFE's from a couple of lenders is just being smart. Don't trust someone because he's an Ag. Unfortunately, the real estate business attracts a great deal of greedy types looking to get rich quick at the expense of others and it hurts everyone.

If you need the contact info of some other lenders, let me know. There a few I trust above others who I know will do their best to advise you.....and no, I would not make any money from helping you, unfortunately. ;)

[Burnetaggie99]

:gig:

[Slotback]

I'm buying a new house

Fun stuff. I'm looking forward to having my house paid off by June.