Скачать или смотреть (Mortgage) Closing Costs [Mortgage Loans] How much are home loan fees?

Mortgage Closing Costs? Home Loans! How much are Loan fees? Mortgage loans The closing costs can be expensive! Home Loan - Fees! What are all those closing costs for Home Loans? Do all mortgage loans have them? Why are there so many Home Loans closing costs? Are all mortgage loans like this? The Mortgage Pro explains loan fees for a mortgage and all mortgage loans closing costs! This video explains mortgage loan closing costs explained in an easy to understand manner about home loan fees. Mortgage Closing Costs can add up to thousands of dollars so understanding mortgage loans & what are closing costs for a buyer can eliminate stress and uncertainty through the mortgage loan process. There is no shortage of real estate fees on mortgage loans so watch and learn! how much are loan fees, how much are mortgage fees, loan fees explained, fees of a loan, loan fees, real estate loan fees, fees of a mortgage, home loan fees, title fees, mortgage fees, mortgage fees explained, lender fees, what are loan fees, escrow fees, credit report fees, how much are closing costs , closing costs on buying a house, how much are closing costs on a house, Mortgage closing costs, lender fees, and points, what are closing costs, closing fees, closing costs

00:00 Introduction
0:22 Closing Costs Fees
0:32 Escrow Fees
0:53 Title Fees
1:10 Other Costs
2:22 Ways to Pay the Fees
3:53 Upfront Fees

Common closing costs for a mortgage are Processing, Underwriting, Origination or discount points, Appraisal, Credit report, Escrow or Attorney fees, Title insurance, recording, notary and many escrow companies and title fees have numerous add-ons such as loan tie in fee, printing fee, electronic BS fee (sounds like a lot of BS from title and escrow - that part is!) and there are other fees depending on the companies chosen.

Most reputable companies will only charge you a processing and underwriting fee, Points can be charged based on the rate chosen. In most cases, you can have a higher interest rate to reduce or eliminate these fees. The rest of the fees, go to other companies and have nothing to do with the mortgage lender.

Points are a direct result of the cost of the interest rate on the day the loan was locked. The more the points paid - the lower the rate. The less the points charged- the higher the interest rate. This is very standard in the mortgage industry and this see-saw method is used by every bank that does mortgages.

Appraisal fees. These fees are paid directly to an appraisal management company which is a requirement by federal law. The appraisal management company pays the appraiser.

The fees will vary from one escrow fee for a refi loan and a much higher fee for a purchase. There is more work for a purchase loan than for a refinance transaction so the fee is usually justified.
Attorney fees as you probably already expected are considerably higher than the escrow fees.

Again, the mortgage company does not receive the attorney or escrow fees. They are paid directly to those entities.

Some (but not all) of what are often called junk fees are:
Doc Printing fees (I've seen printing 75+ pages as high as $250)
Wire Fees
Email Fee
Loan Tie in Fees
Endorsements
Courier Fees
And more.

Title Insurance, while certainly necessary, these fees are paid to the title insurance company, not the mortgage lender.

A short list of their potential fees are:
Title - Closing/Settlement Fee
Title - Lender’s Title Insurance
Title – Title Exam/Search Fee
Title – Deed Preparation
Title – Closing Protection Letter
Title – Courier/Wire
Title – Tax Report
Title – Doc/Processing Fee

Other fees that do not go to the mortgage company: Notary fee, Recording fees, and others.

Now if that is not enough, there are other costs that are not considered fees! What is the difference? These costs are prepaid interest on the mortgage, Homeowners insurance (usually 1 year and 3 months up from to close the loan) & property taxes. The amount of property taxes collected in California (it may be different in your state) ranges from State to state but can be as little as 2 months or as much as 10 months.

The explanation of what are closing costs are included in this video, all fees of a mortgage.Credit reports fees
loan fees
underwriting fees
title fees
escrow fee
attorney fees
appraisal fee
processing fees
recording fees
notary fees

and more... I'm sure you're tired of reading about closing costs and loan fees so just watch the video and learn.

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#mortgageloans #closingcosts #loanfees

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