My closing costs are about 3,300 dollars greater than my good faith estimate. Is this normal?
2007-01-15 14:32:18 · 4 answers · asked by Todd B 1 in Business & Finance ➔ Personal Finance
I am a mortgage broker the goodfaith estimate I give customers is usually within $200 or so I would say if it is that much off do not go through with the loan, if it is a purchase transaction find another broker usually if you have everything they need they can get it closed for you in about 5 days or so, if it's a refi, do not sign the papers and find another broker if you already signed papers you have a 3 day right to cancel so exercise that right.
2007-01-15 14:57:59 · answer #1 · answered by Paul 2 · 0⤊ 0⤋
Your GFE tells you total closing costs in all. So if it says you need to come out of pocket $4000 to close, that is the total. However, depending on where you are at in the process your GFE could definitely change a little bit by the time you get to the end. It's not a bad idea to ask for an up to date GFE a few times as you move along in the process (if you know things are changing).
2016-05-24 19:55:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
no it isn't normal this happened to us but it was $5000 more and I refused to go with the company and they charged me $500 on my credit card for the dam estimate but i got the money back since I didn't sign anything for the estimate lucky me
2007-01-15 14:40:40 · answer #3 · answered by cutiepie81289 7 · 0⤊ 0⤋
No, that sounds very wrong.
2007-01-15 15:59:11 · answer #4 · answered by MagicalMke 4 · 0⤊ 0⤋