Home » MONEY FORUMS » Real Estate » If I’m looking to take out a $100,000 mortgage, what can I expect my IR, servicing fee, and origination fees to be? Should I go through a bank or an alternative lender?
Marked as spam
Posted by Chandler Lally (MONEY FORUMS: 2, Answers: 0)
Asked on October 20, 2015 4:12 pm
For most borrowers with good credit you can see a 3.25 for a 15 year and a 4.5 for a 30 year (Fixed Rates). The origination fee will be around 1% ($1000), but some providers will waive this fee (be sure to ask). Sometimes this is broken out into three fees (origination, processing and underwriting). About 1% is common for the combined total of the 3. As far as servicing, I'm not 100% sure what you're talking about, but you shouldn't have to pay the bank to process your monthly payments (at least if you pay through any major bank).
SIGN UP FOR OUR NEWSLETTER