James, most people are taught from the media that the most important questions to ask when financing a home are the rate and costs involved; however this is doing a huge dis-service to the you the consumer. This is NOT a commodities industry, meaning you need to ask questions on how they are going to add value to you by working with you. The place that offers you the flat $595 fee probably won't add any value, meaning the may not show you how to obtain your short term and long term goals, whereas the place that is offering the $2000 fee might have these processes in place. That $1405 difference may actually costs you thousands of dollars over the term of your mortgage by using the smaller fee place. The loan processes you need to look for when deciding who to use are: what are their communication processes, what loan options are they giving you to choose from, do they have integrity, how long have they been in the business, can they give you referrals to call to ask about their services, do they have systems in place for a smooth transaction, will they be able to close on time, and what are they going to do to add value to YOU. If you would like any more information or have any further questions, please don't hesitate to contact me at dmcdermitt@beaconfinancial.biz

With our company we are not able to do anything about the lender fees because they are what the company that is actually giving the loan charges, but lately to stay competitive we have been waiving the 1% origination fee. I would get maybe 3 or 4 companies to give you a Good Faith Estimate and compare to see what each is charging and determine, who to go with from there. This will help you find out what is normal for the different items being charged to you. I am sure you can wheel and deal with the lender as well, right now I am sure that they would love your business and would be willing to figure out how to lower their fees some to an area that you are more comfortable with.

Hi James,You are correct that there is a range in lender fees, which are their costs to provide mortgage financing loans. You do have the option of paying these fees yourself, have seller contributions, gift funds from relatives or obtain a higher interest rate and use the credit from the lender towards the closing costs. You can compare 3 different lender's good faith estimate and truth in lending disclosures to make the best decision. You may also want to consider who will provide the best customer service and turn time to meet your close of escrow date. We would appreciate the opportunity to earn your business!Sincerely,Shawn SajorExecutive Vice PresidentGS Capital LendingAZMB# 0910135Office (480) 699-8813Fax (480) 634-5977Email: shawnsajor@gscapitallending.comWebsite: www.gscapitallending.com