Home Equity Loan Closing Costs

hesscl34 · 06-07-2007, 04:34 PM

It is understanable for a bank to charge closing costs when getting a Home Equity Loan. I know that if you get a "line of credit" rather than a loan that they will wave the closing fees, but it is normal practice when you get a loan (because you need an appraisal) to end up paying fees? I just got a good faith with fees for about $1100, which seems high to me. $500 of it for Pre-paid finance charges????

06-07-2007, 04:34 PM	#1
hesscl34 Registered User Join Date: Jan 2006 Location: Germantown, MD Posts: 2,782	Home Equity Loan Closing Costs It is understanable for a bank to charge closing costs when getting a Home Equity Loan. I know that if you get a "line of credit" rather than a loan that they will wave the closing fees, but it is normal practice when you get a loan (because you need an appraisal) to end up paying fees? I just got a good faith with fees for about $1100, which seems high to me. $500 of it for Pre-paid finance charges????

Home Equity Loan Closing Costs

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