What are usual origination charges on HARP refinance?

So let me see if I get this right. You are being charged an origination fee of 1.5%, but you end up with a net credit of 0.5% meaning your net charge for the origination of this loan is $2,000 paid to you, you are doing a $400,000 HARP loan and you are getting a rate of 3.875% and you think you are being charged too much. Really? 3.875 is a smoking rate, even today. Your broker can only be paid by you or by the lender, but not both. It is likely the "Lender Fee" you see is the fees charged by the investor you are being locked with, and goes to the investor and not your broker. As for not wanting to roll your impounds into the new loan. Tell him. It's an easy adjustment to lower your loan amount and have you bring the difference to escrow. Also, as long as you are bringing money to the table, ask how much it would cost you to drop the rate to 3.75% and not get the credit. You'll probably be shocked at the extra cost for that small drop in the rate. Your broker most likely picked the rate because part of our job is to balance the rate and the cost to provide the best blend for our borrowers. Finally, it amazes me how many people think their broker is making too much money on a transaction. We don't. Compensation for our industry is down significantly from just a few years ago. No matter how you slice it, this is a great deal. You shouldn't pass it up. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

if you lower your loan amount, it will lower your origination costs, but minimally... since as you stated your being charged 1.5%.. You would save 1.5% of any $$ you put down.. ($6000 X .015=$90)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. 480-287-5714 WilliamAcres.com

Are you locked in? then this is an estimate the costs will depend on the rate you are applying for.

i have been doing harps basically without origination , so they closing costs are minimal.. its easier to get the harps thru, or if do charge, it is only .5 or 1% depends on the loan size... the whole concept of the harps is to lower the interest rate, or change terms, and not to add more to the loan balance.. i have seen some people trying to put on 2 to 3 points , in origination costs, just because they think they can .. and people are wondering why their harps are not getting approved i do work in calif for loans.. you can email be at yourloanpartnerforlife@live.com or phone at 602-330-1598 linda who is your bank?

Ok.. so now that you have complete understanding.. let me really confuse you.. Under the current laws.. if a lender is originating a loan with their own funds, rather than "Brokering" the loan, then they don't have to disclose all the origination charges.. Banks (BofA, Wells Fargo.. etc) for example will not show a $6000 charge in block 1, and then show a credit of $8000 in block 2.. with an adjusted origination of $-2000.. they are not obligated to show you the CREDIT portion.. so if they do the same loan as your broker, you might only see in block 1 $1000 underwriting fee, and no credit's at all in block 2, and block 3 showing Adjusted origination of $1000.. all things being equal.. this would be a worse deal than what your broker is currently offering since his adjusted origination is a -$2000.. it makes no sense that these types of loans should work under different rules.. but the banks have high paid lobbyists on their side so here we are.. 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. 480-287-5714 WilliamAcres.com

Hello, rates are at all-time low's and if you are planning on staying in the home for a long period of time, then you may want to spend 3-5 minutes to see what we can qualify you for. We are ranked #4 lender in CA, we usually have the lowest rates in the nation, and we will provide exceptional service. Depending on your exact situation, we have given out rates around the 3.375% & 3.50% and even lower if you are wanting to buy down the rate. Please feel free to contact me at jolson@afnmortgagelenders.com or 949.491.8607, thank you.

You are getting a good deal period. Let your loan officer know that you want to lower your loan amount and bring the $6,000 to the closing.

sounds like a decent deal to me