origination charges

[Jack W. Wong]

Hey all,

I'm buying my first personal residence in Houston and the company said if I use their mortgage broker there will be a 4000 closing credit. send me the prequalification letter with the following origination charges for a 224,191 loan amount. I wanted to know which is "junk" fees or negotiable. It was advertised if I use the broker there will be a 4000 closing credit

lender fee 1450

appraisal fee 520

attorney documentation prep 200

survey fee 390

Prepaid:

homeowner insurance 1080

Reserves:

homeowner insurance 2 months: 180

property tax 2 months: 1066

title/closing fees

texas guaranty fee 6

escrow messenger fee 10

tax cert fee 130

electronic recording fee 20

settlement fee 375

owner title insurance 165

lender title insurance 1563

endorsements 78.15

Recording and transfer fees:

Fees 108

NTP recording fee 20

Additional Settlement Charges:

HOA dues: 950

HOA Capital contribution: 475

HOA transfer fee 150

Any advice would be appreciated!

[Tyler Sterns]

From a title insurance perspective, the larger the loan, the more likely the settlement fees would be negotiable. The title insurance premiums will not be negotiable but you could choose not to purchase owners title insurance. Settlement fee, messenger fee, and attorney doc prep fee may all be negotiable. 

[Mindy Jensen]

@Jack W. Wong, I'd go ahead and get a quote from a few other brokers, too. Just because you're getting a $4000 credit doesn't make this guy the best choice.

That said, they are charging you a $1450 lender fee, which takes that credit down a big chunk right off the bat.

I don't see very much that is negotiable, or would be worth your time to try and find another provider for. Are these all the charges?