Good Faith Estimate Defined
Loan Officers are requried to send a Good Faith Estimate to their clients as part of their pre disclosures. The Good Faith Estimate will have a line by line description of all finance charges associa
http://www.brokeroutpost.com/reference/52635.htm (Updated: 09/05/2007)
Related Reference Topics: [fees, good faith estimate, closing costs]

What costs will I have to pay at closing?
To avoid any surprises at closing, a good rule of thumb is to set aside an amount equal to 2-3% of the purchase price to cover expenses like the following: Prior to Closing - Earnest money deposit
http://www.brokeroutpost.com/reference/147453.htm (Updated: 08/04/2007)
Related Reference Topics: [closing costs, prepaids, title, appraisal]

Refinance Lowest Rates
When Considering Refinancing the lowest rates, a borrower must consider that over the period you will hold the mortgage, the total costs net of offsets will be lower on the new mortgage than on the ex
http://www.brokeroutpost.com/reference/126583.htm (Updated: 07/02/2007)
Related Reference Topics: [refinance, refi, interest only, interest]

Types of closing costs
Certain areas of the country may have added closing costs, but these are the general types of closing costs you might see at closing: Attorney's or escrow fees Property taxes Pre-Paid Interes
http://www.brokeroutpost.com/reference/15734.htm (Updated: 05/16/2007)
Related Reference Topics: [closing costs]

Closing costs and settlement charges
Closing costs and settlement charges usually include an origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other c
http://www.brokeroutpost.com/reference/65148.htm (Updated: 10/28/2006)

Mortgage Consultant
What is a mortgage consultant? Is it the same as a loan officer, a financial planner, a mortgage adviser, or a mortgage broker? A mortgage consultant is a mortgage professional that is licensed, h
http://www.brokeroutpost.com/reference/39131.htm (Updated: 09/24/2006)
Related Reference Topics: [loan officer, adviser, financial planner]

How many points can I legally be charged?
You may wonder how many origination points you can legally be charged by your mortgage broker. The maximum fee cap varies from state to state. Wisconsin for example the broker is capped at 6% total co
http://www.brokeroutpost.com/reference/26046.htm (Updated: 09/03/2006)
Related Reference Topics: [mortgage points, fees, origination fees]

APR
The APR (Annual Percentage Rate) is the percentage cost of the credit for which you are obtaining on a yearly basis. The APR was designed by the federal government to reveal the true total cost of get
http://www.brokeroutpost.com/reference/20345.htm (Updated: 05/28/2006)

Loan origination fee
Loan origination fee is a fee that you pay a mortgage loan officer to work on your loan. It is necessary for the loan officer to be paid – their family needs to eat too. The loan officer generally r
http://www.brokeroutpost.com/reference/30035.htm (Updated: 04/20/2006)
Related Reference Topics: [fee, loan, origination, commission, payment]

Questions to ask your mortgage broker
When you apply for a mortgage loan there are many important questions you will want to ask your mortgage broker. The questions you ask will give you a clearer picture of the mortgage you will be recei
http://www.brokeroutpost.com/reference/26018.htm (Updated: 03/12/2006)
Related Reference Topics: [mortgage broker questions]

Closing Costs
Closing Costs Explained Closing costs are the actual expenses that the lender incurs in the origination of a new home loan. Some of the costs are related to your loan application, such as the expen
http://www.brokeroutpost.com/reference/18240.htm (Updated: 02/19/2006)

Closing Costs
Expenses, over and above the price of the property, incurred by buyers and sellers in transferring ownership of a property. Closing costs normally include an origination fee, an attorney's fee, taxes,
http://www.brokeroutpost.com/reference/10621.htm (Updated: 01/27/2006)