Average closing costs
Question
Questions on my mortgage application?
I just applied for a mortgage and just have two basic questions: 1. If I think the interest rate is too high (I have a credit score between - 725 - 765 but don't know the exact score), should I be getting the lowest rates available, i.e. the 4.9 average I'm seeing everywhere? 2. Which are the most negotiable closing costs? The loan is a 30 year FHA for $165k. Thanks for your help!
6 months ago - 4 answers
Best Answer
Chosen by Asker
My mortgage guy told me they go by the middle score and thet determines interest rate, we had the seller pay all closing costs so im not sure on that and mine was only for 116k but if you are not comfortable then dont do it.
by B
6 months ago
Asker's Rating: 
Other Answers
appraisal, originination, underwriting or processing fee is negotiable. Call around real fast to see what other lenders offer in terms of fees and rates.
by David Z- 6 months ago
You do use the middle of 3 scores. Even using the 725 score that is a good score. I would definately say you should be getting rate low 5% or even the 4.9. Negotiable are fees such as: origination fee, broker fee, processing fee. Check around to see what other broker or lenders will offer you. A broker can get paid off the of the rate. Meaning if they charge you 5.5% that rate may be paying the broker 1% on the back end. They have to disclose that on the good faith estimate if they are not an actual bank. It will say "yield spread paid by lender."
by Danielle M- 6 months ago
Your score is good and you can request for the closing cost from the seller .when you or your realtor writes a contract ,you can request up to 3% closing cost from the seller .you can also buy point and bring down your interest rate.your principal and interest should be at around 875.70 and it is not include the tax and insurance.The FHA loan must include interest ,principal,tax and insurance.Good luck
by nick- 6 months ago