Financing in Bellerose>Question Details

Skat28, Home Buyer in Queens, NY

I have a question regarding a closing cost item on our GFE.

Asked by Skat28, Queens, NY Thu Jul 22, 2010

I had originally applied for a loan for a property that cost $425,000 (5% down), but we then decided to purchase another property lower priced property since we hadn't yet signed contract. The second property had a purchase price of $401,000 (5% down). We received a new GFE as a result. The "Title services and lender's title insurance" on the GFE for the first property was $4,114.17 but for the second lower priced property it was $7,113.78. All other items were basically in a similar range. What could be the possible reason for such a large difference?

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2
Mike B’s answer
BEST ANSWER
Title services are a 3rd party fee.

Check with your attorney or title agent for what the title costs will be. I am guessing the 1st was based on an estimate from a title provider, and the 2nd was auto generated by the co., which is on the high to be safe by not disclosing too little.

Either way, the mortgage co. does not determine title fees.
1 vote Thank Flag Link Thu Jul 22, 2010
That is a question for your loan agent they will be the only ones with the answer.
0 votes Thank Flag Link Thu Jul 22, 2010
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