Please help with closing cost origination fees?

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Please help with closing cost origination fees?

You are paying way too much for the mortgage. Interest rate is a bit high but your debt to income ratio with that loan is not all that great and you said credit is fair so that interest rate is not outof line. The mortgage costs are. Shop around mortgage brokers.

Please help with closing cost origination fees?

I am in the mortgage industry and you are paying WAY TOO MUCH for your closing costs! Our standard is a 1% loan origination fee unless you would like to take a higher interest rate to absorb closing costs. On the information that you have listed you should be paying around 7-8k for your refi. I don't know what the par rate is in New York but here in WA that is high for a 30 yr. fixed.

Try going with a bank or credit union. Call around to some of your local banks in NY and give them the breakdown of your loan. For example you would say:

I am refinancing my 2 family house, it appraised for 620k, I owe X amount on it (that will let them figure out your loan to value), with a middle credit score of ___insert # here, if you don't know what your scores are ask your broker to send you a copy of your credit report, and ask all of them to send you Good Faith Estimates and a Truth-In-Lending Disclosure.

Compare them and go with your best deal!

Please help with closing cost origination fees?

That rate would be considered high here in South Carolina. 6.75 was from months ago. Rates have come down. The typical origination fee here is 1%

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Please help with closing cost origination fees?

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