Posts Tagged "$212500"

WHAT IS THE AVERAGE CLOSING COST ON $212,500 FHA LOAN IN FLORIDA?

on Oct 19, 2012 in FHA Information | 1 comment

Question by Kimberly: WHAT IS THE AVERAGE CLOSING COST ON 2, dosage 500 FHA LOAN IN FLORIDA? Everyone says that the closing cost should be around 2-3% of the loan – Does that include the Estimated Reserve/ Prepaid Cost? The type of loan is FHA with 3.5% down which is $ 7, sale 437.50. Also let me know if you see any bogus charges that I can dispute with the Mortgage Broker. Thank you! Here are the est. costs on the Good Faith Est. Estimated Closing Cost – Items payable in Connection with the Loan : Loan Origination Fee @ 0.500% is $ $ 1, this 062.50 Appraisal Fee : $ 350.00 Credit Report : $ 30.00 Processing Fee : $ 445.00 Admin Fee : $ 895.00 Title Charges Settlement or Closing Fee : $ 625.00 Title Insurance Fee : $ 25.00 Endorsements : $ 200.00 Government Recording and Transfer Charges : Recording Fee : $ 200.00 State Tax/Stamps : 721.34 Intangible Tax : $ 412.19 Additional Settlement Charges : Survey : $ 275.00 Termite/ Pest Inspection : $ 75.00 Scanning Fee to Fort Dox : $ 15.00 Estimated Reserve and Prepaid Cost : Items Required by Lender to be paid in Advance Prepaid Interest 10 days @ $ 30.0558 – $ 300.56 Mortage Insurance Premium : $ 3,544.68.00 Hazard Insurance Premium : $ 2,160.00 Reserves Deposited with Lender : Hazard Ins. 2 months @180.00 = $ 360 Mortgage Ins. $ 92.84 Property Tax : 4 months @ $ 245.00 = $ 980.00 Best answer: Answer by bbbbbbbbbbbbI would say the lender fees seem to be a little excessive. Appraisal fee and credit report are standard. BUT the other 3?? Orig fee $ 1062.50 Processesing Fee $ 445.00 Admin Fee $ 895.00 Total $ 2402.50 I am in Pennsylvania and these type lender fees would run around $ 1200. If I were you I would get another quote from another lender. The rest of the Good faith looks ok..BUT is hazard insurance really $ 2160/year? Here it would run around $ 600/yr. What do you think? Answer below! WHAT IS THE AVERAGE CLOSING COST ON $212,500 FHA LOAN IN...

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