Educate Me About Origination Fees!

[Anonymous]

BNC National Bank
In business 11 years
Loan product 30 year fixed (VA)
Interest rate 3.375%
APR 3.526%
Payment (P&I) $3,802
Loan amount $860,000
Down payment $25,000
More
Total Fees$16,661
Lender Fees *Third party fees may not be included.
Appraisal fee $350
Credit report fee $17
Borrower Rebate -$2,196
VA Fees Learn more about VA
VA funding fee 2.15% ($18,490
http://www.zillow.com/profile/Farrell-Bowden/

[Anonymous]

I assume this is a low-money down loan. If so, origination fees are standard but highly negotiable. 20% down loans typically come with no fee; otherwise negotiate for the best rate. If you're looking at 3.5% down programs, FHA might beat out VA...would try M&T or a local smaller bank, or a broker experienced in VA/FHA financing placement.

[Anonymous]

Anonymous wrote:I assume this is a low-money down loan. If so, origination fees are standard but highly negotiable. 20% down loans typically come with no fee; otherwise negotiate for the best rate. If you're looking at 3.5% down programs, FHA might beat out VA...would try M&T or a local smaller bank, or a broker experienced in VA/FHA financing placement.

NO fha charges mortgage insurance each month for the life of the loan, VA loan fee is one time and can be wrapped into the loan.

these 3 are excellent better than the big banks and can pre-approve you in a couple of days and are direct lenders (no awful take a number wait 2 weeks for responses like the big bank or credit union experiences)
http://www.redfin.com/openbook/home-loans/washington-dc-james-walker-sp5432
http://www.redfin.com/openbook/home-loans/washington-dc-rob-mercer-sp7280
http://www.caliberfunding.com/cwashburn