Those who obtained their mortgages directly from Chase

If you don't mind sharing, I'm curious what kind of origination fees you were quoted (excluding any points). If you don't want to post, feel free to FM me.

TIA

Re: Those who obtained their mortgages directly from Chase

Hi Jess - we did, and we closed last month. I don't have my paperwork from the closing nearby but my GFE is still on the computer. What does Chase call their origination fee on the GFE? I paid 1/4-point for a discount on the loan rate, the application fee was $395, processing fee was $300 (knocked down to $100 because they have a special program for union members), underwriting fee was $295 (but I paid $0) and their attorney's fee was $700. Everything else was either a fee from the title company or NY State.

ETA: I just checked our HUD statement for you. It shows that we paid $395 in "origination credit" - I'm guessing that means the application fee. That's it.

Good luck with the process! I hope it goes smoothly for you!

Message edited 4/1/2010 12:40:19 AM.

Re: Those who obtained their mortgages directly from Chase

thanks dava, that helped a lot

Re: Those who obtained their mortgages directly from Chase

If you don't already have a checking account with Chase, they offer benefits regarding your mortgage if you do.

Re: Those who obtained their mortgages directly from Chase

Re: Those who obtained their mortgages directly from Chase

Make sure you sign up for automatic payments too, and you'll get 1% back at the end of the year (of the principal and interest you've paid). They'll either write you a check, or apply it to the principal. According to their calculations, we'll pay off our loan a year early just by doing that.

You don't need to be a new customer; you just need to enroll in the automatic debit program (called "P.A.I.D." I think).

Re: Those who obtained their mortgages directly from Chase