good faith estimate: FHA Origination Fees & Origination Charges - What does it all mean? - 03/17/11 10:47 PM
I have heard many different explanations when it comes to FHA origination fees. In my opinion, there seems to be confusion and inconsistencies when it comes to FHA origination fees. Let's first define FHA origination fee or just origination fee. In the HUD buying handbook, it is explained to be a fee charged for the processing of the loan application. The origination fee is a percentage of the loan amount, if charged. It's not a standard 1 percent. It could be any fraction of a percentage. This fee can vary amongst lenders, especially depending on the interest rate. And even though … (11 comments)
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good faith estimate: I want the same deal my friend got!! - 03/03/11 09:41 AM
In many cases, don't we want the best deals? I think when most people begin to shop for a home or shop for a mortgage, wanting a good deal or the best deal is on many buyer's or seller's minds. And when getting a great rate, some people like to brag about it. But are the details distorted? Not known?
One key point to remember through this whole post, Not one borrower is the same. One needs to compare apples to apples. Just a lower credit score could change the whole scope of someones interest rate. And … (75 comments)
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good faith estimate: Good Faith Estimates - FHA or Conventional - What are the problems when shopping?? - 12/17/07 09:23 AM
Do you feel like you are sometimes back in time when shopping for a mortgage? Is it because you have now talked to 5 different lenders and nothing seems consistent? How is the communication level when shopping good faith estimates? Does that loan officer just give you want you think you want to hear?
Let's look at one major contributing issue when shopping for a mortgage. "If it's too good to be true, then it usually is." Do you think that you are a savvy shopper because you think you know what you are asking for? Do you think … (15 comments)
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good faith estimate: FHA origination fee and what it means...... - 08/20/07 10:10 PM
Don't let your lender confuse you with definitions of certain fees. It's amazing how some loan officers will define such fees, especially when explaining what an origination fee is. In regards to conventional loans, most companies just put their points under discount points. Sometimes you will see a lender place nothing under origination or discount points, but under broker fee. And then you have the FHA origination fee.
Definition: Origination Fee
A fee related to establishing your mortgage. The exact use can be unclear, but the fee ultimately compensates your lender or broker for putting your loan in place. This is from … (14 comments)
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