Question Details

Leonard Pache, Home Buyer in Davie, FL

Are closing costs the same with different lenders?

Asked by Leonard Pache, Davie, FL Fri Apr 19, 2013

Help the community by answering this question:


We all know that closing costs are the various itemized charges tacked into your loan at closing. Ranging anywhere from a few dollars to several thousand of dollars. They are supposed to be payment for specific services provided to you in setting up your loan. However, these fees can dramatically different from one lender to another one.
When shopping for a mortgage loan most consumers focus in getting the lowest interest rate, but you can also save a lot of money by paying carefully attention to the fees paid at closing.

All the best,

Maria Cipollone
1 vote Thank Flag Link Mon Apr 22, 2013
Some things will not vary, like taxes, insurance, recording fees, appraisal, attorney fees, title insurance but things that the lender charges do vary. These include doc prep fee, discount points and loan origination fee.
0 votes Thank Flag Link Fri Apr 19, 2013
Depends on the loan package and fees. Origination fees, discount points, etc. can vary by lender which will affect the buyer's closing costs. Also, interest rates can vary by loan package and who is handling your mortgage - if you go with a mortgage banker vs mortgage broker and even within those categories, you may see different rates.
0 votes Thank Flag Link Fri Apr 19, 2013
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