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Closing costs on an FHA Refinance

Hello, 

I'm trying to decipher this estimate of closing costs before signing this good faith estimate.
Do these look about average? 

Loan amount: $158,615
801 Origination fee: $595
901 Prepaid interest: $14.12
902 Mortgage Insurance Premium: $15.86
under 1101 Title Service & Lenders Title Insurance it says
1102 Settlement or Closing fee: $800
1104 Lenders Title Insurance: $400
Prepaid Finance Charge: $1424.98
805 Credit check $12
1003 Homeowners insurance 3 months: $75
1202 Recording Fee: $200
Total: $2111.98

Thanks!

  • October 17 2012 - US
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Answers (4)

What's the interest rate?  Are they giving you any lender credit to help cover the costs?
  • October 17 2012
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By the mortgage insurance premium, I assume you are doing a streamline FHA refi and your current loan was taken out pre May of 2009.  Question I would have is what is the rate and is the lender providing a credit to offset these costs.
  • October 17 2012
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The GFE doesn't use those line item numbers (801, 901, etc) and there is nowhere on a GFE to sign, it's not required.

I don't think you're looking at the GFE.
  • October 17 2012
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Sorry I hadn't seen these replies sooner. Yes, they did end up giving me $1500 lender credit at the closing. That was a surprise. The rate is 3.25%. It is an FHA Streamline and my old mortgage was prior to May 2009. Looks like I will be getting a refund from escrow too. Thanks for your responses! 
  • November 09 2012
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