Zillow Advice: Home Buying - What can I do to get more (or better) quotes for my loan request ZR-TSPPQFH? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-TSPPQFH/516166/ Zillow Advice | Zillow Real Estate Hi Nora,For mortgages, lenders ... http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-TSPPQFH/516166/ Hi Nora,<br/><br/>For mortgages, lenders are capped at the amount a borrower can pay.&nbsp; This amount is capped at 5% of the loan amount per&nbsp;RESPA.&nbsp; So, for all expenses to acquire this mortgage (appraisal, underwriting, processing, title work, etc.), by law you would only be able to pay $1,000 (5%).&nbsp; Average 3rd party costs are $2,500, so achieving this would be impossible.&nbsp; If you are charged more than 5%, it is considered a form of predatory lending, and a lender could lose their license.&nbsp; It is not that you are being "criticized", it is that lenders cannot meet regulatory requirements with loans of this size.&nbsp; You may want to contact your bank or credit union and look at acquiring a personal loan for the remaining balance.<br/><br/>Apologize for inconvenience, but want you to know the rationale behind limited responses.<br/><br/>Best,<br/><br/>Bryan Mon, 21 Oct 2013 23:36:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-TSPPQFH/516166/ 2013-10-21T23:36:00Z