why do some banks charge fees and others don't?

Asked by Nena, 11581 Sun Jul 24, 2011

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Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Sun Jul 24, 2011
Each bank sets their fees to what they feel is competitive for the types of loans they are making to the market they are serving.

Not always, but often it has to do with service as better service usually means more fees, so determining which bank to go with should take into consideration the terms, fees & service being provided - collectively called the "value". Perhaps one bank charges lower fees but will not explain things as thoroughly or doesn't do as much of the work that needs to be done as you would like, perhaps one bank charges a lot of extra fees for services and assistance you can do without, etc. You'll have to thoroughly examine your own needs as well as how each bank can meet those needs and under what terms. Part of the answer will be analytical, part of the answer will be how you personally feel.
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Jul 24, 2011
I am presuming that you are asking; relating to a Real Estate Transaction:
The secret to understanding this is the GFE, (Good Faith Estimate) that your Title Company will do for you.
The Title Company works for the Buyer and the Seller only, and has no axe to grind.
They will explain the GFE and even do more than one GFE for different circumstances.

I hope this answers your question

Good luck and may God bless
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Jul 24, 2011
Which fees are you referring to.....
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Jul 24, 2011
Can you ID what type of fees are you talking about ? Checking ? Savings ?

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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