Mortgage Fees

We decided to refinance and change from a principal only loan to a traditional loan about 6 months ago. We checked out several companies and finally decided on a small company that provided us with a great rate. It was a conventional loan for 360 months with no escrow or insurance included in the monthly payment. We had to pay for appraisal in the amount of 350.00 out of pocket in addition to the 3150.00 they charged in fees.

The customer service that we were given was the best. They worked with us to gather all of the paper work needed and obtained most of it themselves through our bank or employers with out us having to do much at all. The closing was very simple. A gentleman representing the mortgage company came out to our house after we got off from work and we did all of the paperwork at our dining room table. Very painless.......except for the 100 times you have to sign or initial.

It was really a painless and I think by just checking credentials and Better Business Bureaus in your area that should give you a solid guide for choosing a company. Make sure you check to see that there are not any complaints for mortgage fraud filed against the company you are interested in with the Attorney Generals office in your state . With foreclosures up more than 30% in the third quarter last year alone, there are a lot of con artist out there.