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Do the lenders in your area charge an Origination or Broker fee? If so, is it a percentage of purchase price?

In my market, most lenders are not charging these "up front" fees. At the same time, there are exceptions, however, these exceptions are the rare instance.
Tue May 6 2008, 09:32 - All locations - Home Buying - 3 answers
 
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Trey Bowden
Real Estate Pro
in Edmond
Trey Bowden, Real Estate Pro in Edmond in Edmond
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Jimmy Hutchi… was FIRST TO ANSWER
In this area the lenders do charge a fee. Normally it will be no more than 1% of the purchase price. It will be included in the closing costs.

Tue May 6 2008, 09:48
 
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In the Fayetteville Nc area lenders are charging 1% loan origination fee, some will give a credit to the buyer to help with closing cost.

Tue May 6 2008, 09:45
 
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FIRST ANSWER
They are in my area around Bellflower, Downey, etc... Typically 1 point of the sales price, but they are still charging. They do have special programs with no origination fees, but the customer must have a very good credit/income profile.

Tue May 6 2008, 09:36
Web Reference: http://www.jimmyhutchinson.net
 
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