A mortgage origination fee includes?
604372
Money going from your pocket to the bank.\n\nJust another way to take your cash buddy...nothing really included for you.
518856
Restrictions on mortgages? Doesn't make sense. Restrictions IN mortgages? Have to be included in the mortgage document.
453687
If at all possible get a fixed rate. When considering a bank(or any entity) for your mortgage the rate should not be the only consideration. There are a number of fees, some normal some junk, that are added to the cost of the loan. Compare and make a judgment based on all the factors.
729576
No, but its not very sensible as you are continuing to mount up interest charges.  Contact them and see if you can come to some arrangement which will make it easier to pay.  \nDONT IGNORE IT ANY LONGER!!!!
706543
I did about 3 years ago.  One thing to consider, most of these programs require the seller to pay a fee.  You may have to increase the sale price to compensate them for the fee.  Other than that, I didn't notice anything different from a 'normal' home purchase.  It was my first home purchase, so I have no other experience for comparison.
670832
*Mortgage application fee - anywhere from $200 to $400\n*Appraisal fee - anywhere from $200 to $400\n*Title searches and title insurance premium - rates set by state law depending on purchase price - anywhere from $500 to $1000\n*Lender's attorney review fee - anywhere from $100 to $200\n*Recording fees - anywhere from $100 to $200\n*Escrows for taxes and insurance - 3 months worth of each\n*One year of homeowners insurance paid in advance\n*Closing attorney fee - $500 to $1000\n\nThis is a rough outline of the fees for closing.  When you apply for a mortgage the lender will give you a "Good Faith Estimate of Settlement Costs" that will list a much closer estimate.\n\nContact a lender and ask them to prequalify you.  They will tell you how much of a mortgage you can afford.  Then ask them for an estimate of their fees.  Once you know these numbers you'll have a better idea of how much of a purchase price you can afford.
138038
A lot of new home subdivisions are being built as common interest developments.  If you want to buy a property in one of these developments you must join the association.  In every association I have ever herd of there is always some type of fee.  Sometimes the fees are small, just some type of management fee.  Other times the association pays for gardening, maintenance, roads etcetera.  I know in some areas it can be hard to find properties that don’t belong to some type of association.  They do however exist; you just have to find them.  Oh, I almost forgot, if you decide to buy in an association community, read the CC&R’s VERY carefully.  They often have strict requirements about what you can and can not do to, on or in your own property.  \nBest of luck to you.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.
470879
Points, mortage interest and real estate taxes are deductible and should be reported to you by your mortgage company.\n\nFees such as document processing fees are not deductible, but you are able to add them to your basis if you have a capital gain on the sale of your house.  I would not worry too much about computing the basis of your house purchase(since there is a 250/500 K exclusion), but I would keep the documentation so I had it just in case you need to compute it.\n\nHOA fees might be included in your closing costs and are never deductible(or added to the deduction) because it is an expense for your benefit.
796996
That seems like a lot of money.  It might be worthwhile to call the bank where you have your account and ask their advice -- there may be someone there who is accustomed to seeing this type of business and can tell you whether the fee is reasonable for what you are trying to do.  And your bank will know about the transaction, anyway, once you get the money deposited.
1006592
There are several options there but you may be better of talking to your bank, a mortgage broker and perhaps check an online offer to give you three options.  Keep in mind it may give you peace of mind to work with a local buisness or bank for your mortgage.  It never hurts to shop I tell all of my customers to shop around.  Check origination, lock fees, rates are important but can be less of an indicator of a "good loan" or not.
863186
It depends on the lender. Some have seasoning requirements. Some have 6 months, some have 12 months. There are also lenders that don't require seasoning, but they are usually non-conforming and depending on  your credit, 2 years previous rental or mortgage history, along with the 4 months mortgage history that you have with you're new mortgage, their rates might not be any better then the rate you have now. Call a few mortgage brokers and ask them if they have any lenders that will do a rate/term refinance with no seasoning requirements. Also, make sure that you don't have a pre-pay penalty with your cuurent mortgage. Sone lenders charge a huge pre-payment penalty.\n\nGood Luck!
1173689
Not sure what you mean by payment fee.\n\nYour mortgage payment should only include your principal and interest payments.  If you have set up an escrow account, you will also pay towards taxes and insurance monthly.  \n\nIf you are late, you will be charged a late fee.\n\nHave you asked your lender about this?
71042
Owner financing is where the owner of a house says that they will also give you the mortgage instead of you going to a bank or a brokerage to obtain your mortgage.  \n\nTo protect yourself, make sure you still utilize a title company and record the Deed into your name out of the sellers name.  The transaction should be exactly like you are getting a mortgage from a third party.\n\nDisadvantages are maybe not getting the best rate.  The seller could try putting a clause in the mortgage that may not be industry standard and may put you in a bad position.  Make sure an real estate attorney looks the contract over before you sign it.\n\nALWAYS make payments with a check and on time.  You will need this proof of payment on a mortgage if you ever refinance or want to buy another home.  \n\nThe sellers are less likely to report your payments to the credit bureaus, so this is a disadvantage also.\n\nIf you have any other questions or would like to get a quote on closing costs (you can get them free and at no obligation), please feel free to give me a call at 877-659-5626. My name is Laura and I'd be happy to help.
657411
You need to go and talk to a Mortgage Broker.  Any loan officer worthy of the name can easily assess your situation in short order.  STAY AWAY from anyone who is going to charge you fees up front (with the exception of the fee for pulling your credit bureaus.)
467418
It really all depends.  Some places charge a non-commission fee for services such as Amerprise Financial.  Others, such as Bank of America and their investment arm, may vary their fees according to tiers.  As an example, if you are not a customer or are looking to become a customer places may give you a lower introductory fee for the first year of service.  Some financial institutions base their fees on your status as a customer - the more business you do with the institution, the lower your fee.  For instance, I have my personal checking, savings, mortgage, equity line and investments (mutual funds & IRAs) all through the same financial institution and, as a result, I don't pay a fee for the services I receive in the way of financial planning.\n\nContact your banker/broker/mortgage company to see what deals they have and how you can best take advantage of any deals available.
704813
This really depends on the structure of your loan. The higher the risk, the higher the cost and/or rate, regardless of whether they are a broker or a lender. Broker's are like middle-men, they work with several banks to secure your financing, which only saves you the leg work of getting quotes from 5 different banks. If you go directly to the lender, you can avoid the middle-man, along with the fees they charge to secure your loan. However, there is usually not a big difference in costs or rate between the two, since brokers get their loans from the lenders at wholesale level, and then charge whatever the going rate is. They will then get paid for whatever up front fees as well as "YSP" which is the amount that a certain interest rate pays the broker. This will all be disclosed on the final settlement statement, under "Broker YSP". This shows you how much the broker was paid to originate your loan.