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Any fees on the gfe negotiable?

My good faith estimate has high costs that i dont need, for example i have already paid an appraiser. i just want to know if anything is negotiable if i already have it by ailaya78624321 from Frametown, West Virginia. Jan 30th 2015 Reply

Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions

Generally, few fees are negotiable. We used to have the option to negotiate fees more, but government regulations have essentially prohibited lenders from being "negotiable." This is better for some consumers, and worse for others, like yourself. Specifically, appraisals must be completed though "AIR" Compliance (formerly HVCC), and therefore, an independent appraisal would not be acceptable; additionally, RESPA compliance would prohibit an appraisal being completed prior to a loan application date without the AIR regulations. If you completed your appraisal through another lender (AIR Compliant), however, then you may be able to transfer that to your new lender. Honestly, I still believe the best approach is to find a local mortgage broker who works with multiple banks/lenders and let them shop and negotiate with their bank partners on your behalf. At the very least, get a second opinion on those fees if they look extremely high. If the quotes are within even a few hundred dollars of each other on the bottom line, then at least you'll know the loan officers are being honest in their quotes. If their is a large discrepancy in fees, then either one or both of the lenders are "wrong" and then you need a third or fourth estimate...the one in the middle is likely the loan officer who is being honest. I don't do business in your state, but I'd be happy to give you a consultation/review of your estimate based on basic loan programs and average rates and fees. Or, if you'd like a referral to an honest loan officer in your state, I'd be happy to find one for you in my professional network. Send me an email to, if you'd like to take me up on either of those offers.

Jan 30th 2015
Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,242 contributions

Some fees are negotiable but appraisal isn't one, the lender you are using will typically require one of their approved appraisers do an appraisal on your home

Jan 31st 2015
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

I would say no, they are usually not. However, I bet there are some fees you are seeing on the GFE that may be confusing. For instance, you have already paid for an appraisal but it's still on the GFE. The reason that would be is that the GFE is letting you know what all fees are that are associated with you getting a loan. It does not matter if they are paid for already (like the appraisal) or if the seller is paying them or if it's being added to your loan amount. It sounds like you need a better explanation of your fees from your loan officer. I would get with him/her and have them go over your fees/credits line by line and make sure you know the final numbers. If the appraisal was something you paid for prior to this lender you may have to get a new appraisal. It depends on when the appraisal was done and what type of appraisal it was. Again, get with your loan officer and make sure they answer all of your questions. Best wishes, Sean

Feb 1st 2015
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

In most instances, there is little room on the GFE for negotiation.. If your a real estate investor, then title companies will often have discounted rates.. and your lender can negotiate his fees ("Your Adjusted Origination Charges", Section A of GFE) or credits.. but pretty much everything else is set.. Appraisals fees are never negotiable, and if you have an appraisal that was not ordered by your lender, then per current regulations, you will not be able to use it.. Appraisals must be ordered through a 3rd party to maintain integrity.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Feb 2nd 2015
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,054 contributions

DO NOT LET ANYONE FOOL YOU. Fees are fees. There are costs to do a loan. Most costs are NOT from the lender, but from third parties (appraisal, credit report, state taxes, title company, county recording fees, etc). YOU will ALWAYS pay the costs. How you pay them can vary. The most common way to "reduce" your closing costs is by simply increasing the rate slightly. Anyone offering "lower costs" or "willing to negotiate" is just going to do so by increasing the interest rate. Talk to your loan officer. Few appraisals are transferable to another lender. But some are. If you have a transferable one, obviously the new lender would not need to obtain a new one. With that said, I still need to list it on the estimate, but I would then also mark it "POC", which means paid outside of closing.

Feb 4th 2015
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