GFE Review

[jocks98]

We just got our mortgage sent to the underwriter. I think its pretty good, but wanted to get some other opinions.

 

Origination charge= 366.30

Rate 3.652 1point= 1170.00

Adjusted Origination=1536.30

 

Appraisal=325.00

Credit Report=21.22

tax service= 40.00

Flood Cert.=17.00

Life of loan flood cert.=7.00

Mortgage Insurance= 2638.00 (Lender Paid)

 

Total for all other settlement=2949.12

title service=425.00

Govt recording=88.50

Transfer taxes= 0.00

Initial deposit for escrow=416.78

daily interest charges (11.62x22 days)=255.64

 

your charges for all other settlement= 4135.04

total estimated charges=5671.34

 

Purchase Price= 130,000

estimated prepaid items=672.42

estimated closing costs=1290.02

discount point=1170

total costs= 133,132.44

 

credits

earnest money=1000.00

tax credit= 1108.00

Loan amount=117,000

cash from borrower=14,024.44

 

We are putting 10% down. 30 year fixed rate. This is a lender paid pmi program. Our estimated total monthly payment is 741.97. Scheduled to close and take possession on August 10. The underwriter looked at my file once during the preapproval process. My middle score was 719 (I allowed my utilization to hit 28% when they pulled.)

 

I think it is a pretty good loan just wanted to see what others had to say.

[Brian B The Loan Professor]

We just got our mortgage sent to the underwriter. I think its pretty good, but wanted to get some other opinions.

 

Origination charge= 366.30

Rate 3.652 1point= 1170.00

Adjusted Origination=1536.30

 

Appraisal=325.00

Credit Report=21.22

tax service= 40.00

Flood Cert.=17.00

Life of loan flood cert.=7.00

Mortgage Insurance= 2638.00 (Lender Paid)

 

Total for all other settlement=2949.12

title service=425.00

Govt recording=88.50

Transfer taxes= 0.00

Initial deposit for escrow=416.78

daily interest charges (11.62x22 days)=255.64

 

your charges for all other settlement= 4135.04

total estimated charges=5671.34

 

Purchase Price= 130,000

estimated prepaid items=672.42

estimated closing costs=1290.02

discount point=1170

total costs= 133,132.44

 

credits

earnest money=1000.00

tax credit= 1108.00

Loan amount=117,000

cash from borrower=14,024.44

 

We are putting 10% down. 30 year fixed rate. This is a lender paid pmi program. Our estimated total monthly payment is 741.97. Scheduled to close and take possession on August 10. The underwriter looked at my file once during the preapproval process. My middle score was 719 (I allowed my utilization to hit 28% when they pulled.)

 

I think it is a pretty good loan just wanted to see what others had to say.

Looks good congrats