Compare Texas Lender Origination and Closing Fees
Obtaining the best possible mortgage scenario for Texas homeowners is challenging with thousands of options to choose from. When comparing lenders, you’ll want to consider both interest rates and origination fees. Bankrate.com surveyed up to 10 lenders in each state in June 2011 and obtained online good faith estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals and title insurance. The survey excludes taxes, property insurance, association fees, interest and other prepaid items.
Josh Campbell, Texas mortgage loan officer – NMLS #493535, provides his clients with excellent mortgage rates with the extremely low fees. Josh’s origination fees for Texas homeowners average at $775 total. You can see below that the average was over $1950 for Texas lenders surveyed by bankrate.com in 2011.
Itemized Fees Break Down for Josh’s Clients
- $250 Processing
- $300 Underwriting
- $75 Tax Service
- $150 Attorney Doc Preparation
|Average origination fees charged by lender||$1,951|
|Average title and third-party fees||$2,994|
|Average total fees||$4,944|
Itemized fee averages
The fees itemized below, when added up, will not equal the averages listed above. Here’s why: Each bank charges some of the fees listed below, but not all of them. The list below gives the average for each fee if charged by the bank, but each bank will charge only some, not all, of these fees.
|Origination fees charged by the lender|
|Broker, originator or lender||$1,242|
|Attorney, closing or settlement||$523|
|Inspections (pest, etc.)||N/A|
|Title search and title insurance||$2,111|