I’m buying my third house, but I’m not sure which closing costs are legitimate. How can I protect myself from being overcharged?
You protect yourself by shopping your lenders. Never stop at the first lender you find. By shopping your lenders, you’ll gain a better idea of what fees are legitimate. At a minimum, talk to at least three different companies and get three different bids for each deal. Analyze what each one tells you and see who is puffing numbers up. If you see an extra point or two that doesn’t make sense, let that lender go! Or, if you prefer to work with that person, ask her why s/he is charging you an extra point when another company isn’t. What you will find is that 99% of the time that point will disappear for you.
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