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Is this good faith estimate o.k. ?


2bdebtfree
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first time homebuyer.

30 year fixed @ 4.500

no va funding fee(40% diability)

$151,766 financed

origination fee $1,517.66

discount points $1,517.66

appraisal fee $350.00

flood cert $20.00

title insurance $650.00

recordng fee $30.00

interest for 5 days @ $18.9708 per day $94.85

hazard insurance premium $531.24

hazard insurance premium for 2 months @ $44.27 per month $88.54

taxes and reserves for 6 months @ $107.50 per month $ 645.00

no pmi(va)

total closing cost $ 5,509.95

Is this a fair gfe?, Are the fee's legit?

First time home buyer!

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Something seems fishy about this -- the going rate for VA loans is around 5.625% at one point. You are paying two points, but rate buydowns don't work on a 1:1 basis. Usually, for every point you pay you get a reduction of .5% off the interest rate, give or take.

Do you know if the seller is paying any costs for you? Maybe they are paying a point to get you a lower rate.

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Inter First @4.5% paying .125 out the back.

Everything looks good and fair to me. The broker gets to earn a paycheck and you get a great rate. Simply the difference between paying the broker and seeing what you are paying the broker, vs. not paying any closing costs and broker earning his wages through a higher rate.

There are several circumstances that can be argued between the two differences as to which one is best.

Both of you are getting very decent terms.

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