Help, I'm doing refi with Penfed right now
I'm about half way thru the online application and got an fee estimate as below:
Estimated Settlement Charges
Pentagon Federal Credit Union's origination charge $1,225.00
Your credit for this interest rate ($65.00)
Required services we select $469.33
Appraisal Fee $400.00
Credit Report $7.33
Flood Certification Fee $7.00
Tax Service Fee $55.00
Title services and lender's title insurance $1,165.60
Government recording charges $84.00
Initial escrow deposit $2,349.97
Daily interest charges $49.94
excluding the escrow deposit of $2,349.97 and daily interest charge, the total comes to around $2900 or so. this seems kind of high, doesn't it ? I read great reviews of it here and I thought they could do better than that. is lender's title insurance required?
this is for a 15 yr, $115k loan @ 3.875%
also, if I submit the app w/o locking, am I obligated to anything or fees?
my current lender is provident funding, their online quotes is around $1300 , too good to be true ? I used a broker for my last refi and have never dealt with them except my monthly auto payment. anyone had experience with them. btw, I backed away from amerisave after reading too many negative reviews of them.