[quote=Sandiagon] you will get better deal with direct lenders like Wellsfargo, Bofa, etc… Direct lenders never charge origination fee.
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The above statement is ignorant and incorrect.
You will NOT “always” get a better deal from a direct lender. You will get a higher rate, and higher monthly payment for the life of the loan, that can cost you tens of thousands of dollars over the life of a loan for not paying an origination fee.
Banks are nothing more than mortgage brokers, except banks have fewer options.
Shopping around is fine, but have a clue what you are shopping for.
It’s often a foolish borrower that falls for a no point loan, esp at today’s rates.
For the OP, it’s impossible to know what closing costs are without knowing if you want to buy the rate down, what the title & escrow costs will be, and whether you are required to have an impound account for taxes and insurance.
It also depends on loan amount. Total closing costs of around 2% for a loan up to $400K, and bit less than 2% above that.
With a no point loan your cost should be less.
What is your rate with a no point loan ??
