FEES... FEES... FEES...

Estimate of Closing Costs

Require your lender to present to you a Preliminary Cost Estimate (PCE) prior to accepting him as your lender. It might be called by another name; no matter.

Another form must be issued to you several days prior to you signing your loan documents. This is when you might be pressured to agree to paying additional fees (for some reason or another) which MUST be signed by you. If you do not agree with the figures, do NOT sign. Call your lender and/or broker for substantiation and/or support.

It has become prevalent in the business to take advantage of some buyers.

The California Association of Realtors (CAR) recently published a list of fees which had appeared on mortgage (closing) statements from various institutions. They state that "some can be construed as so-called "garbage fees."

Lenders	$$Questionable$$
Lender's Inspection/photo fee	$50
Document fee	40-200
Processing fee	250-300
Insuring/guaranteeing fee	50-100
Funding fee	150
Endorsement fee	100-200
Trustee fee	25
Tax service	50
Alta bring-down fee	20-50
Set up/shipping fee	50
Warehousing fee	50
Endorsement 104.1 fee	75-100
Escrow Companies	$$ So - So .$$
Loan tie-in fee	50-100
Document preparation fee	50-75
Drawing document fee	50
IRS reporting fee	50
Title Companies	$$Wow . Man$$
SubEscrow fee	50-100
Disbursement fee	50-75
Title funding fee	50