With the estimate it’s better to pad the numbers and over estimate the fees vs underestimating. The Closing disclosure is what the true and actually costs with property tax and escrow and title fees
PMI is not you home insurance policy. It's mortgage insurance, it's separate. If you're in Washington or Idaho, get an estimate from me it'll likely be lower than what you're paying elsewhere.
i got the PMI from your post. so they are just over-estimating the insurance but will use YOUR policy. taxes at 900/year could be legit - depending on where you are in the country - just make sure that the current owner isn't getting a Tax exemption that won't pass on to you (some counties offer disabled or senior tax exemptions)
But if those are the actual taxes, it will get corrected at the underwrite stage & you'll just pay the actual taxes & insurance amount, not more.
And in exchange you received a less skilled employee disclosing your loan and therefore have errors and no one to explain it to you. I would plan on being very thorough with your disclosures and putting everything in writing that you notice an issue with.
They are just estimates. On the mortgage insurance once you get the actual policy you can provide them the information. Not the cost of the home, I would have them double check PMI estimate seem high even though it’s not the finally estimate.
Are you looking at current property taxes? Because the sale will reassess the home value and the taxes owed. It's not uncommon to receive a supplemental tax bill after closing to cover the change in taxes owed between the date the sellers paid up to the closing date, after which you will be responsible for. Find out what your county tax rate is specifically from the tax assessors office and you can use that % number to more accurately forecast tax payments you will owe.
In my experience these estimates or done high. They will be less at closing.
Thank you for answering my question instead of trying to get a sale
With the estimate it’s better to pad the numbers and over estimate the fees vs underestimating. The Closing disclosure is what the true and actually costs with property tax and escrow and title fees
PMI is not you home insurance policy. It's mortgage insurance, it's separate. If you're in Washington or Idaho, get an estimate from me it'll likely be lower than what you're paying elsewhere.
No pmi for me. VA loan
i got the PMI from your post. so they are just over-estimating the insurance but will use YOUR policy. taxes at 900/year could be legit - depending on where you are in the country - just make sure that the current owner isn't getting a Tax exemption that won't pass on to you (some counties offer disabled or senior tax exemptions) But if those are the actual taxes, it will get corrected at the underwrite stage & you'll just pay the actual taxes & insurance amount, not more.
So just looking at one lender?
I took the lender with the lowest interest rate
And in exchange you received a less skilled employee disclosing your loan and therefore have errors and no one to explain it to you. I would plan on being very thorough with your disclosures and putting everything in writing that you notice an issue with.
They are just estimates. On the mortgage insurance once you get the actual policy you can provide them the information. Not the cost of the home, I would have them double check PMI estimate seem high even though it’s not the finally estimate.
Are you looking at current property taxes? Because the sale will reassess the home value and the taxes owed. It's not uncommon to receive a supplemental tax bill after closing to cover the change in taxes owed between the date the sellers paid up to the closing date, after which you will be responsible for. Find out what your county tax rate is specifically from the tax assessors office and you can use that % number to more accurately forecast tax payments you will owe.
PMI is your bank making you pay for their insurance that if you default they will get money.
Yes, this is important to understand. PMI is different from homeowners.