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?
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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).