SDR, That sounds like a conforming rate, not jumbo.. ??
FromNJ, when you are quoted fees does it include ALL
1) Title & Escrow,
2)Lender Underwriting
3) Broker fees
There’s just so much misleading info, and some details often get left out. Even if you get a GFE, it doesn’t have to be accurate, but there is NO REASON that the above 3 charges can’t be almost exact up front.
It raises the hair on my neck when builders REALLY discourages you from getting your own financing.
If they agree to sell to you for $XX, why do they care where you get it from ? ….Because they may be able to influence the appraiser. It’s not in their best interest to save you money on Title & Escrow fees, but they can have a bit of control over the closing date. You can really play the builder hard sometimes, but you do need to be willing to walk. I know that emotions get involved, like buying a car that is just the right color.
Try to negotiate for your upgrades, and constantly bounce back and forth between their financing and outside financing, and continue to ask WHY there is a difference.
Realize that if you don’t have a realtor representing you from the first day that you walked in there, they are probably saving 3% in broker co-op. They aren’t going to give it to you, but it should give you a bit more leverage for upgrades or SOMETHING.
