Question:

How much in points and origination fees do I have to pay?

Answer:

How much you have to pay in points and origination fees depends on the type of the borrower you are.

If you have 700 credit, a great retirement plan and big salary, you can have some points and fees waived. If you are considered a higher risk (600 credit, $35,000 income, low savings), it is more likely to be charged more in origination fees.

Also, even though reputable lenders can be found online, there are many who are not and who will offer you lower origination fees and points to pay. Do not risk your house or getting into trouble for a $15 lower monthly premium. If you are going with a lender that you just found on the internet or on a TV ad, make sure you check them first or ask your attorney to do it for you.

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