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deanna0976 · #1 10-02-2006, 10:48 AM

I qualified for a Rural Development loan. It basically is where I put no downpayment unless I want to and I do not have to carry Mortgage insurance. The lender sent me an application and I have some questions regarding some of the things on there. Does any one know where I can go to get some of these answers other than the lender I am dealing with? I would feel better with additional info.

MichaelG · #2 10-02-2006, 12:01 PM

What are your questions?

deanna0976 · #3 10-02-2006, 12:29 PM

I was sent a good faith estimate that had some of the following fees on them. Loan Origination Fee,Tax related service fee,funding fee,attorney fees, interest paid to lender. I am unfamiliar with all of these things and was curious if this is all typical. I was also wanting to know if anyone knew of things I should be aware of in this process.

bobbyc99 · #4 10-02-2006, 08:01 PM

I am no expert, but all of these sound like reasonable fee's that I have heard of.

deanna0976 · #5 10-06-2006, 05:48 PM

I did a bit of research on this. I spoke with a person that was a previous loan officer. FYI the loan origination fee that is charge to you on your good faith estimate is negotiable. A good rate is 1% of the loan.