Newbie needs help assessing GFE fees

Financing, Hard Money Lenders, Private Money
1

Good Morning All,

Can someone take a look at the closing costs on this GFE and tell me if the fees are standard or somewhat high. The deal is NOO, multi-family (4 or less units). It is PA, so we are not using an attorney.

Loan Amount: $57,120
Interest Rate: 7.25% 7/1 ARM
Loan Origination Fee: 0%
Loan Discount Fee: 0%
Tax Related Service Fee: $75
Mortgage Broker Fee: $1,428
Application Fee: $675
Commitment Fee: $400
Flood Deter/Monitor: $11
Title Examination: $350
Notary Fee: $25
Title Insurance Premium: $300
Endorsements: $225
Recording Fees: $325
Closing Service Letter: $35
Transfer Tax ΒΆ: $414
Survey: $500

Thanks in advance for your assistance.

NJ/PA Investor

2

Other than they are charging you 2.5% for the mortgage broker fee everything else looks good.

3

I agree with Christopher. With the exception of the high broker fee the rest appear to be in line.

4

Thanks for your input.

NJ/PA Investor