If the lender's good faith estimates are accurate, are they a reasonable amount for closing costs? why or why not? a. yes, because the lender estimated 3.08% of the home loan in closing costs which falls between 3 - 5%. b. yes, because the lender estimated 4.6% of the home loan in closing costs which does not fall between 3 - 5%. c. no, because the lender estimated 6.2% of the home loan in closing costs which does not fall between 3 - 5%. d. no, because the lender estimated 17.7% of the home loan in closing costs which does fall between 3 - 5%.

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30-11-2022
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If the lender's good faith estimates are accurate, are they a reasonable amount for closing costs? why or why not? a. yes, because the lender estimated 3.08% of the home loan in closing costs which falls between 3 - 5%. b. yes, because the lender estimated 4.6% of the home loan in closing costs which does not fall between 3 - 5%. c. no, because the lender estimated 6.2% of the home loan in closing costs which does not fall between 3 - 5%. d. no, because the lender estimated 17.7% of the home loan in closing costs which does fall between 3 - 5%.

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Tutorconsortium353 Tutorconsortium353 · Answer 1 · 2022-12-02T16:56:25+01:00

Yes, considering that the lender anticipated closing fees at 3.08% of the mortgage, or between 3 and 5%.

How much can the fees charged by a lender change between the loan estimate and the closing disclosure?

Title company costs are normally from the lender's preferred title company and are disclosed on the Loan Estimate for disclosure purposes. These costs cannot increase by more than 10% if you choose the lender's chosen title provider.

What is a reliable expense for a mortgage's closing costs?

Buyers should budget between 2% and 5% of the purchase price for closing charges overall. Usually, their share of the costs consists of: One or two origination points, or lender costs, which are equivalent to 1% to 2% of the loan amount and typically range from $750 to $1,200 for each point.

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