Hello all—I would like opinions on the following loan estimate from Better. We are first time home buyers and would appreciate any feedback or thoughts on this estimate.
Loan amount: $545,000. (20% down)
Interest rate: 2.75%
APR: 2.775%
Points: 0.102% of Loan Amount ($550)
Loan cost/origination Fee: $550 (points) (*no other fees were indicated in this section)
Appraisal: not given (indicated they may waive)
Credit report: $50
Flood certification: $14
Services you can shop for (title deed, sales tax settlement, settlement fees): $655
Other costs (taxes and government fees; prepaids; initial escrow): $17,000
Adjustments and other credits: -$11,236
Do these charges seem reasonable? Should we lock in this rate? Any red flags?
*The loan cost only lists our points. Does Better truly not charge any other fees here?
Thank you for any feedback!!
Help review this loan estimate--good deal or not?
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