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Christopher Said:

What other fees are included in a mortgage APR?

We Answered:

The APR is supposed to be an accurate method of calculating the cost of borrowing including all fess and should include the following:

1. Discount Points
2. Origination Points
3. Pre-paid interest
4. Loan Processing fee
5. Underwriting fee
6. PMI
7. Application fees

These fees can often be hidden and its important you discuss tem with your independent mortgage broker (http://www.wwfp.net/mortgage/mortgage-br…

Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.impartial.co.uk.

Arlene Said:

If I provide my own credit reports and score, do I still have to pay a mortgage lender the credit report fee?

We Answered:

Yep. They will run their own, probably twice. It should not cost very much, they pay a yearly fee to run them.

Loretta Said:

Does it matter who my mortgage lender is? Or just lowest fees?

We Answered:

I hate to say this, but often "friends" or prior associates do not always give a customer the best deal. IF you can get a lower ratewith another company, who you get it through is immaterial at this point. Most companies sell there loans so in a few months you will most likely have another mortgage lender, so who you use today will not matter.

I have found that if I shop around I have gotten better rates on my own because the "unknown" vendor wants my business, whereas my "friend" is looking to make the most money he can from me.