What Are My TOTAL Points and Loan Fees?
Some companies only quote the “Discount” Point(s) associated with the loan and do not include the “Origination” Point(s). Other companies charge a flat “Broker Fee” or “Origination Fee.” With us, the Rate and Points are as posted, and there are no “hidden” origination fees or points. 2. Can You Fax Me a Rate Lock Disclosure? This goes hand in hand with the first question. Many companies are willing to fax over a Good Faith Estimate of Costs because it is just that – an estimate that is subject to change. Too many times, trusting customers go to settlement only to find undisclosed points and / or fees. A rate lock disclosure, on the other hand, is a more binding document that will insure you the rate and TOTAL points. Be sure to ask your loan to specifically itemize the “origination” and “discount” points on the rate lock disclosure. This will protect you in the event you get to settlement and there are additional points. If a company is unwilling to fax over a rate lock disclosure alon
