The original GFE was $7,245. Now that we're days away from closing the GFE is up to $9000! We are wondering if this is all worth $9000! Is there a specific % of the loan amount for closing costs? The loan is for $100,000.
depends on if you are seeing the 2010 gfe or the 2009 one - depends on if you applied prior to Jan 1 or not - the different formats might explain the difference. Also, insurance and tax escrow amounts can be hard to guestimate prior to getting the real tax/ins data. Ask your lender to explain the difference. If it has to do with lender fees, lender points or a rate change then you might want to fight a little harder.
Yours is better than the quote that was provided to me. For a FHA loan of $115,000 my GFE is $11,500. How can I negotiate to bring this down?
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