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What are the closing fees which can be negotiated down, once a GFE is received?

  • January 19 2009 - Brentwood
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Answers (6)

Scott Hink pretty much answered it.

Everything that is a lender and third party fee is usually non-negotiable, such as title, escrow, prepaid interest, etc.

Generally speaking, the origination is the most negotiable.  Most operations have set fees, such as a processing fee and a broker/lender fee.  Outside of that, the origination is negotiable between you and your chosen consultant.

Best wishes Nellio!
  • January 20 2009
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If the lender changes the GFE to a higher rate that covers all fees, that is not a renegotiated GFE, it's a restructured GFE. They are not negotiable if they are done correctly the first time. I can give someone 2 GFEs, both different, accurate, and both non-negotiable.
  • January 19 2009
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"Come on, haggle."
If you feel the need to negotiate your GFE down, you are not working with the right lender. 

:)
  • January 19 2009
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Uhhhh, come on guys. Fees on a Good Faith Estimate are negotiable. Just bear in mind that the less you pay in fees, the higher your interest rate will be. Also bear in mnd that there's no such thing as a no cost loan. All loans incur costs. It's just a mattter of who will pay the fees - you or the lender. If you want the lender to reduce his fees or pay all the fees, then expect a higher interest rate so the lender can recoup his costs through your higher rate and payment.
  • January 19 2009
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What is not negotiable is the prepaid items, the attorney fees, title fees, credit report, appraisal fee, processing fee, underwriter fees, courier fees, wire transfer fees and recording fees.
  • January 19 2009
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If it is a good GFE...NONE.
  • January 19 2009
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